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PLEASE Answer in the provided format During its first year of operations, Monty Corp. had these transactions pertaining to its common stock. Jan. 10 Issued

PLEASE Answer in the provided format

During its first year of operations, Monty Corp. had these transactions pertaining to its common stock.

Jan. 10 Issued 25,900 shares for cash at $4 per share.
July 1 Issued 54,500 shares for cash at $9 per share.

Prepare a tabular summary to record the transactions, assuming that the common stock has a par value of $1 per share. 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.)

Assets

=

Liabilities

+

Stockholders Equity

Paid-in-Capital

+

Retained Earnings

Cash

= +

Common Stock

+

PIC in Excess of Par Com.

+

Revenue

-

Expense

-

Dividend

Jan. 10

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

select an account title Dividends/Interest expense/Paid-in-capital in excess of common stock/Common stock/Preferred stock/Paid-in-capital in excess of preferred stock

July 1

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

enter a dollar amount

select an account title Paid-in-capital in excess of common stock/Preferred stock/Common stock/Paid-in-capital in excess of preferred stock/Interest expense/Dividends

PLEASE Answer in the provided format

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