E11-1 Reporting Shareholders' Equity and Determining Dividend Policy [LO11-2, LO11-3] Beamsley Corporation was organized in 2020 to operate a financial consulting business. The charter authorized 12,000 common shares, no par value. During the first year, the following selected transactions were completed: a. Issued 5,300 shares of common shares for cash at $18 per share. b. Issued 1,300 shares of common shares for cash at $21 per share. Required: 1. Show the effects of each transaction on the accounting equation. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.) Transaction Assets b 2. Prepare the journal entry required for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Shareholders' Equity