Identifying and Analyzing Financial Statement Effects of Stock Transactions The stockholders equity section of XPress Media Company for the current year follows.

8% preferred stock, $25 par value, 50,000 shares authorized;
8,400 shares issued and outstanding	$210,000
Common stock, $10 par value, 200,000 shares authorized;
50,000 shares issued and outstanding	500,000
Paid-in capital in excess of par valuepreferred stock	85,000
Paid-in capital in excess of par valuecommon stock	300,000
Retained earnings	370,000

During the year, the following transactions occurred. Jan. 10 Issued 28,000 shares of common stock for $18 cash per share. Jan. 23 Repurchased 8,000 shares of common stock at $20 cash per share. Mar. 14 Sold one-half of the treasury shares acquired January 23 for $22 cash per share. July. 15 Issued 2,600 shares of preferred stock for $128,000 cash. Nov. 15 Sold 1,000 of the treasury shares acquired January 23 for $26 cash per share. Required a. 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									Income Statement
Transaction	Cash Asset	+	Noncash Assets	=	Liabilities	+	Contrib. Capital	+	Earned Capital	Revenues		Expenses	=	Net Income
Jan. 10	Answer		Answer	=	Answer		Answer		Answer	Answer		Answer	=	Answer
	AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		Common Stock		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A	AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A
							Answer
							AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A
Jan. 23	Answer		Answer	=	Answer		Answer		Answer	Answer		Answer	=	Answer
	AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A	AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A
Mar. 14	Answer		Answer	=	Answer		Answer		Answer	Answer		Answer	=	Answer
	AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		Treasury Stock		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A	AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A
							Answer
							AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A
July 15	Answer		Answer	=	Answer		Answer		Answer	Answer		Answer	=	Answer
	AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		Preferred Stock		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A	AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A
							Answer
							AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A
Nov. 15	Answer		Answer	=	Answer		Answer		Answer	Answer		Answer	=	Answer
	AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		Treasury Stock		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A	AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A		AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A
							Answer
							AnswerAdditional Paid-in Capital-CSAdditional Paid-in Capital-PSCashCommon StockPreferred StockRetained EarningsTreasury StockN/A

b. Prepare the stockholders equity section of the balance sheet assuming the company reports net income of $121,000 for the current year. Note: Do not use a negative sign with any of your answers.

XPRESS MEDIA COMPANY
Stockholders Equity
Paidin capital
	8% preferred stock, $25 par value, 50,000 shares authorized;
	Answer	shares issued and outstanding	Answer
	Common stock, $10 par value, 200,000 shares authorized;
	Answer	shares issued, (3,000 shares in treasury)	Answer	Answer
Additional paidin capital
	Paidin capital in excess of par valuepreferred stock		Answer
	Paidin capital in excess of par valuecommon stock		Answer
	Paidin capital from treasury stock		Answer	Answer
Total paidin capital				Answer
Retained earnings				Answer
				Answer
Less: Treasury stock	(3,000 common shares) at cost			Answer
Total stockholders equity