Identifying and Analyzing Financial Statement Effects of Stock Transactions (FSET)

Lipe Company reports the following transactions relating to its stock accounts.

Feb. 20 Issued 14,400 shares of $1 par value common stock at $25 cash per share. Feb. 21 Issued 21,600 shares of $100 par value, 8% preferred stock at $250 cash per share. Jun. 30 Purchased 2,880 shares of its own common stock at $15 cash per share. Sep. 25 Sold 1,440 shares of the treasury stock at $21 cash per share.

Using the financial statement effects template, illustrate the effects of these transactions.

NOTE: Use negative signs with your answers, when appropriate.

NOTE: Select "N/A" as your answer if a part of the accounting equation is not affected.

NOTE: Select "N/A" as your answer if a part of the accounting equation is not affected