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Following are the issuances of stock transactions. 1. A corporation issued 6,000 shares of $10 par value common stock for $72,000 cash. 2. A
Following are the issuances of stock transactions. 1. A corporation issued 6,000 shares of $10 par value common stock for $72,000 cash. 2. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $49,000. The stock has a $2 per share stated value. 3. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $49,000. The stock has no stated value. 4. A corporation issued 1,500 shares of $75 par value preferred stock for $161,500 cash. Analyze each transaction from issuances of stock by showing its effect on the accounting equation-specifically, identify the accounts and amounts (including + or -) for each transaction. Assets 1. 1. = 2. = 2. 2. 3. 3. 4. = Liabilities + = + + Equity
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