E$2-10($Algo$)$ Analyzing the Effects of Transactions in T$-$Accounts LO$2-4$

Accurate Bulders construction company was Incorporated by John Davis. Assume the following actlvitles occurred during the year:

a$.$ Recelved from three investors $$64,000$ cash and land valued at $$39,000$; each investor was issued $1,000$ shares of common stock with a par value of $$0\mathrm{.}10$ per share.

b$.$ Purchased construction equipment for use in the business at a cost of $$38,000$; one$-$fourth was pald in cash and the company signed a note for the balance $($due in slx months$).$

c$.$ Lent $$3,500$ to one of the investors, who signed a note due in six months.

d$.$ John Davls purchased a truck for personal use; pald $$5,400$ down and signed a one$-$year note for $$24,000.$

e$.$ Pald $$14,000$ on the note for the construction equipment In $($b$)($Ignore interest$).$

Requlred:

For each of the preceding transactions, record the effects of the transaction In the appropriate T$-$accounts.

Using the balances in the T$-$accounts, fill In the following amounts for the accounting equation:

Compute the market value per share of the stock.

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

Requirted $1$

Required $2$

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