On January 29, The Stone Store Inc , a granite contractor, issued 150,000 shares of $20 par Common stock for cash at $46 per share, and on May 31, it issued 200,000 shares of $8 par noncumulative Preferred stock for cash at $12 per share a Illustrate the effects on the accounts and financial statements of the January 29 transaction If no account or activity is affected, select No effect from the dropdown list and leave the corresponding number entry box blank Enter account decreases and cash outflows as negative amounts Financial Statement Effects Balance Sheet Assets Liabilities Stockholders' Equity CashPaid in capital in excess of par common stockNo effect Bonds payableCommon stockNo effect Common stockCashNo effect Paid in capital in excess of par common stockRetained earningsNo effect Jan 29 fill in the blank 5 fill in the blank 6 fill in the blank 7 fill in the blank 8 Statement of Cash Flows Income Statement FinancingInvestingOperatingNo effect fill in the blank 10 Cost of merchandise soldNet incomeSalesNo effect fill in the blank 12 Illustrate the effects on the accounts and financial statements of the May 31 transaction If no account or activity is affected, select No effect from the dropdown list and leave the corresponding number entry box blank Enter account decreases and cash outflows as negative amounts Financial Statement Effects Balance Sheet Assets Liabilities Stockholders' Equity CashPreferred stockNo effect Accounts payableBonds payableNo effect Preferred stockPaid in capital in excess of par common stockNo effect Common stockPaid in capital in excess of par preferred stockNo effect May 31 fill in the blank 17 fill in the blank 18 fill in the blank 19 fill in the blank 20 Statement of Cash Flows Income Statement FinancingInvestingOperatingNo effect fill in the blank 22 Cost of merchandise soldNet incomeSalesNo effect fill in the blank 24 b What is the total amount invested (total paid in capital) by all stockholders as of May 31 $fill in the blank 25

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On January 29, The Stone Store Inc., a granite contractor, issued 150,000 shares of $20 par Common stock for cash at $46 per share, and

On January 29, The Stone Store Inc., a granite contractor, issued 150,000 shares of $20 par Common stock for cash at $46 per share, and on May 31, it issued 200,000 shares of $8 par noncumulative Preferred stock for cash at $12 per share.

a. Illustrate the effects on the accounts and financial statements of the January 29 transaction. If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts.

Financial Statement Effects

	Balance Sheet
	Assets	=	Liabilities	+	Stockholders' Equity
	CashPaid-in capital in excess of par-common stockNo effect	=	Bonds payableCommon stockNo effect	+	Common stockCashNo effect	+	Paid-in capital in excess of par-common stockRetained earningsNo effect
Jan. 29.	fill in the blank 5		fill in the blank 6		fill in the blank 7		fill in the blank 8
Statement of Cash Flows					Income Statement
FinancingInvestingOperatingNo effect	fill in the blank 10				Cost of merchandise soldNet incomeSalesNo effect		fill in the blank 12

Illustrate the effects on the accounts and financial statements of the May 31 transaction. If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts.

Financial Statement Effects

	Balance Sheet
	Assets	=	Liabilities	+	Stockholders' Equity
	CashPreferred stockNo effect	=	Accounts payableBonds payableNo effect	+	Preferred stockPaid-in capital in excess of par-common stockNo effect	+	Common stockPaid-in capital in excess of par-preferred stockNo effect
May 31.	fill in the blank 17		fill in the blank 18		fill in the blank 19		fill in the blank 20
Statement of Cash Flows					Income Statement
FinancingInvestingOperatingNo effect	fill in the blank 22				Cost of merchandise soldNet incomeSalesNo effect		fill in the blank 24