Question
Following are the issuances of stock transactions. A corporation issued 3,000 shares of $10 par value common stock for $36,000 cash. A corporation issued 1,500
Following are the issuances of stock transactions. A corporation issued 3,000 shares of $10 par value common stock for $36,000 cash. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,500. The stock has a $3 per share stated value. A corporation issued 1,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,500. The stock has no stated value. A corporation issued 750 shares of $50 par value preferred stock for $79,000 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 = LIABILITIES + EQUITY
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