On May 10, Swifty Corporation issues 3,100 shares of $4 par value common stock for cash at $14 per share. Prepare a tabular summary to record the issuance of the stock. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) SA May 10 $ Assets Cash yow VA Liabilities Common Stock Paid-in-Capital $ PIC in Exces Par Value C

On May 10, Swifty Corporation issues 3,100 shares of \$4 par value common stock for cash at \$14 per share. Prepare a tabular summary to record the issuance of the stock. Include margin explanations for the changes in revenues and expenses. If a transoction couses a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)