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Analyzing and Identifying Financial Statement Effects of Stock Transactions ( FSET ) McNichols Corp. reports the following transactions relating to its stock accounts. Jan. 1
Analyzing and Identifying Financial Statement Effects of Stock Transactions FSET
McNichols Corp. reports the following transactions relating to its stock accounts.
Jan. Issued shares of $ par value common stock at $ cash per share.
Jan. Issued shares of $ par value, preferred stock at $ cash per share.
Mar. Purchased shares of its own common stock at $ cash per share.
Jun. Sold shares of the treasury stock at $ cash per share.
Jul. Sold the remaining shares of treasury stock at $ cash per share.
Using the financial statement effects template, illustrate the effects of these transactions.
NOTE: Use negative signs with your answers, when appropriate.
NOTE: Select NA as your answer if a part of the accounting equation is not affected.
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