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please correct the answers that are wrong and include anything i didnt complege on the transaction sheet. need asap please Exercise 115 (Algo) Analyzing impact
please correct the answers that are wrong and include anything i didnt complege on the transaction sheet. need asap please
Exercise 115 (Algo) Analyzing impact of stock issuance transactions LO P1 Analyze each transaction from issuances of stock by showing its effect on the accounting equation-specifically, identify the accounts and amounts (including + or - ) for each transaction. Answer is not complete. \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline \multirow[b]{2}{*}{24,0000} & \multirow{2}{*}{\begin{tabular}{l} = \\ = \end{tabular}} & Liabilities & \multirow{2}{*}{+} & \multicolumn{4}{|c|}{ Equity } \\ \hline & & & & Common Stock, \$10 Par Value & & & 24,000 \\ \hline & = & & + & \begin{tabular}{l} Paid-In Capital in Excess of Par \\ Value, Common Stock \end{tabular} & & (+) increase 0 & 20,000 \\ \hline & = & & + & Organization Expenses & 0 & () decrease 0 & 22,0000 \\ \hline & = & & + & Common Stock, $3 stated value & & I. & 2,0000 \\ \hline & = & & + & \begin{tabular}{l} Paid-In Capital in Excess of Stated \\ Value, Common Stock \end{tabular} & & & 20,000 \\ \hline & = & & + & Organization Expenses & 0 & () decrease 0 & 22,0000 \\ \hline & = & & + & Common Stock, No-Par Value & 0 & & 22,0000 \\ \hline \multirow[t]{2}{*}{47.0000} & = & & + & Preferred Stock, \$50 Par Value & 0 & & 25,0000 \\ \hline & = & & + & \begin{tabular}{l} Paid-In Capital in Excess of Par \\ Value, Preferred Stock. \end{tabular} & 0 & & 22,000 \\ \hline \end{tabular} Required information Use the following information for Exercises 4.5 below. (Algo) [The following information applies to the questions displayed below] Following are the issuances of stock transactions. 1. A corporation issued 2,000 shares of $10 par value common stock for $24,000 cash. 2. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $22,000. The stock has a $2 per share stated value. 3. A corporation issued 1,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $22,000. The stock has no stated value. 4. A corporation issued 500 shares of $50 par value preferred stock for $47,000 cash. Exercise 115 (Algo) Analyzing impact of stock issuance transactions LO P1 Analyze each transaction from issuances of stock by showing its effect on the accounting equation-specifically, identify the accounts and amounts (including + or - ) for each transaction Step by Step Solution
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