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Identifying and Analyzing Financial Statement Effects of Stock Transactions Pyle Corp. reports the following transactions relating to its stock accounts in the current year. (a)
Identifying and Analyzing Financial Statement Effects of Stock Transactions Pyle Corp. reports the following transactions relating to its stock accounts in the current year. (a) Feb. 3 Issued 56,000 shares of $5 par value common stock at $27 cash per share. (6) Feb. 27 Issued 12,600 shares of $50 par value, 8% preferred stock at 888 cash per share. (c) Mar 31 Purchased 7,000 shares of its own common stock at $30 cash per share. (d) June. 25 Sold 4,200 shares of its treasury stock at $38 cash per share. (e) July. 15 Sold the remaining 2,800 shares of treasury stock at $29 cash per share. Use the financial statement effects template to indicate the effects from each of these transactions. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Balance Sheet Liabilities Transaction Noncash Assets Income Stat E Cash Asset Contrib. Capital Revenues Earned Capital (a) Feb 3 + Common Stock (b) Feb 27 1 . Preferred Stock (c) Mar 31 (d) Jun 25 Treasury Stock e) Jul 15 Treasury Stock Identifying and Analyzing Financial Statement Effects of Stock Transactions Pyle Corp. reports the following transactions relating to its stock accounts in the current year. (a) Feb. 3 Issued 56,000 shares of $5 par value common stock at $27 cash per share. (6) Feb. 27 Issued 12,600 shares of $50 par value, 8% preferred stock at 888 cash per share. (c) Mar 31 Purchased 7,000 shares of its own common stock at $30 cash per share. (d) June. 25 Sold 4,200 shares of its treasury stock at $38 cash per share. (e) July. 15 Sold the remaining 2,800 shares of treasury stock at $29 cash per share. Use the financial statement effects template to indicate the effects from each of these transactions. Note: For each account category, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction. Note: Indicate a decrease in an account category by including a negative sign with the amount. Balance Sheet Liabilities Transaction Noncash Assets Income Stat E Cash Asset Contrib. Capital Revenues Earned Capital (a) Feb 3 + Common Stock (b) Feb 27 1 . Preferred Stock (c) Mar 31 (d) Jun 25 Treasury Stock e) Jul 15 Treasury Stock
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