Learning Case #2B Chapter 2 Hawking, Inc. had the following activities occur in the current year:...

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Learning Case #2B Chapter 2 Hawking, Inc. had the following activities occur in the current year: 12 1. 2. 3. 4. 5. Issued 2,000 shares of common stock for $350 cash per share. Purchased buildings for $175,000 and equipment for $80,000; paid $200,000 in cash and signed a long-term note payable for the rest. Purchased short-term investments for $10,000 cash. Several Hawking, Inc. investors sold 1,000 shares of their own stock to other investors on the stock exchange for $360 per share. Sold short-term investments for $5,000 in cash. Required Using the documents below, a) b) Show the effects of the above transactions on the accounting equation. (Analyzing) Prepare journal entries for each transaction. (General Journal) Post journal entries to the general ledger/T-accounts, summarize each account and find a balance. (General Ledger) Learning Case #2B Chapter 2 Hawking, Inc. had the following activities occur in the current year: 12 1. 2. 3. 4. 5. Issued 2,000 shares of common stock for $350 cash per share. Purchased buildings for $175,000 and equipment for $80,000; paid $200,000 in cash and signed a long-term note payable for the rest. Purchased short-term investments for $10,000 cash. Several Hawking, Inc. investors sold 1,000 shares of their own stock to other investors on the stock exchange for $360 per share. Sold short-term investments for $5,000 in cash. Required Using the documents below, a) b) Show the effects of the above transactions on the accounting equation. (Analyzing) Prepare journal entries for each transaction. (General Journal) Post journal entries to the general ledger/T-accounts, summarize each account and find a balance. (General Ledger)