Accurate Builders construction company was incorporated by John Davis Assume the following activities occurred during the year Received from three investors $60,000 cash and land valued at $35,000 each investor was issued 1,000 shares of common stock with a par value of $0 10 per share Purchased construction equipment for use in the business at a cost of $36,000 one fourth was paid in cash and the company signed a note for the balance (due in six months) Lent $2,500 to one of the investors, who signed a note due in six months John Davis purchased a truck for personal use paid $5,000 down and signed a one year note for $22,000 Paid $12,000 on the note for the construction equipment in ( b ) (ignore interest) Required 1 For each of the preceding transactions, record the effects of the transaction in the appropriate T accounts 2 Using the balances in the T accounts, fill in the following amounts for the accounting equation 4 Compute the market value per share of the stock Complete this question by entering your answers in the tabs below Required 1 Required 2 Required 4 For each of the preceding transactions, record the effects of the transaction in the appropriate T accounts Cash Notes Receivable 0 Beg Bal 0 Beg Bal (b) (c) End Bal End Bal Equipment Land Beg Bal 0 Beg Bal 0 End Bal End Bal Notes Payable Common Stock Beg Bal 0 Beg Bal 0 End Bal End Bal Additional Paid in Capital Beg Bal 0 End Bal

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Accurate Builders construction company was incorporated by John Davis. Assume the following activities occurred during the year: Received from three investors $60,000 cash and land

Accurate Builders construction company was incorporated by John Davis. Assume the following activities occurred during the year:

Received from three investors $60,000 cash and land valued at $35,000; each investor was issued 1,000 shares of common stock with a par value of $0.10 per share.
Purchased construction equipment for use in the business at a cost of $36,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months).
Lent $2,500 to one of the investors, who signed a note due in six months.
John Davis purchased a truck for personal use; paid $5,000 down and signed a one-year note for $22,000.
Paid $12,000 on the note for the construction equipment in (b) (ignore interest).

Required:

1. For each of the preceding transactions, record the effects of the transaction in the appropriate T-accounts.

2. Using the balances in the T-accounts, fill in the following amounts for the accounting equation:

4. Compute the market value per share of the stock.

Complete this question by entering your answers in the tabs below.

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Required 1 Required 2 Required 4 For each of the preceding transactions, record the effects of the transaction in the appropriate T-accounts. Cash Notes Receivable 0 Beg. Bal. 0 Beg. Bal. (b) (c) End. Bal. End. Bal. Equipment Land Beg. Bal. 0 Beg. Bal. 0 End. Bal. End. Bal. Notes Payable Common Stock Beg. Bal. 0 Beg. Bal. 0 End. Bal. End. Bal. Additional Paid-in Capital Beg. Bal. 0 End. Bal