Exercise 8-13

Crane Company had these transactions during the current period.

June 12		Issued 79,500 shares of $1 par value common stock for cash of $298,125.
July 11		Issued 3,650 shares of $105 par value preferred stock for cash at $113 per share.
Nov. 28		Purchased 3,200 shares of treasury stock for $8,800.

Prepare a tabular summary to record the Crane Company transactions. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

Assets

=

Liabilities

+

Stockholders Equity

Paid-in-Capital

Retained Earnings

Cash

=

+

Common Stock

+

PIC in Excess of Par Com.

+

Pref. Stock

+

PIC in Excess of Par Pref.

Treasury Stock

+

Revenue

-

Expense

-

Dividend

June 22

$

$

$

$

$

$

$

$

$

$

July 11

Nov. 28