1 Part 1 of 3 166 points required information [The following information applies to the questions...

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1 Part 1 of 3 166 points required information [The following information applies to the questions displayed below] Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $490,000 of net income and declared no dividends; the following selected transactions occurred in the order given: a. Issued 100,000 shares of the common stock at $64 cash per share. b. Reacquired 34,000 shares at $59 cash per share. c. Reissued 14,500 shares from treasury for $60 per share. d. Reissued 14,500 shares from treasury for $58 per share. Book PM Mc Graw Required: A. Indicate the account, amount, and direction of the effect on above transaction. (Enter any decreases to Assets, Liabilities and Stockholders' Equity with a minus sign.) Cash . b. Cash Cash d. Cash Assets 6,400,000 870.000- 841,000 Liabilities Prev 1 2 3 Next > Stockholders' Equity Common Stock Addtional Paid-In Capital, Common Stock Treasury Stock Treasury Stock Treasury Stock Add Paid-In Capital, Treasury Stock 1 Part 1 of 3 166 points required information [The following information applies to the questions displayed below] Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $490,000 of net income and declared no dividends; the following selected transactions occurred in the order given: a. Issued 100,000 shares of the common stock at $64 cash per share. b. Reacquired 34,000 shares at $59 cash per share. c. Reissued 14,500 shares from treasury for $60 per share. d. Reissued 14,500 shares from treasury for $58 per share. Book PM Mc Graw Required: A. Indicate the account, amount, and direction of the effect on above transaction. (Enter any decreases to Assets, Liabilities and Stockholders' Equity with a minus sign.) Cash . b. Cash Cash d. Cash Assets 6,400,000 870.000- 841,000 Liabilities Prev 1 2 3 Next > Stockholders' Equity Common Stock Addtional Paid-In Capital, Common Stock Treasury Stock Treasury Stock Treasury Stock Add Paid-In Capital, Treasury Stock