Question
NorthernNorthern Corporation sells and issues 100100 shares of its $ 7$7 par value common stock at $ 11$11 per share. Show how this transaction would
NorthernNorthern
Corporation sells and issues
100100
shares of its
$ 7$7
par value common stock at
$ 11$11
per share. Show how this transaction would be recorded in the accounting equation.
Show how this transaction would be recorded in the accounting equation. Some of the
account names
will be abbreviated. (Use parentheses or a minus sign when entering component decreases or contra account increases. Use only the necessary input lines.)
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| Shareholders' Equity | ||||
| Assets | = | Liabilities | + | Contributed Capital | + | Retained Earnings | ||||
| $ | Account |
| $ | Account |
| $ | Account |
| $ | Account |
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| = |
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| + |
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| + |
| |
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| = |
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| + |
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| + |
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