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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.
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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