Problem $8-29($Static$)$ Transaction analysis$-$various accounts LO $8-1,8-2,8-3,8-4,8-6$

$[$The following information applies to the questions displayed below.$]$

Refer to the following transactions.

a$.$ Sold $6,100$ shares of $$50$ par value $6\%$ preferred stock at par.

b$.$ Declared the annual dividend on the preferred stock.

c$.$ Purchased $1,100$ shares of preferred stock for the treasury at $$53$ per share.

d$.$ Issued $3,000$ shares of $$1$ par value common stock in exchange for land valued at $$196,000.$

e$.$ Sold $700$ shares of the treasury stock purchased in transaction c for $$55$ per share.

f$.$ Split the common stock $2-$for$-1.$

Problem $8-29($Static$)$ Part $1$

Required:

Show the effect $($if any$)$ of each of the above transactions on each financial statement category by selecting a plus $(+)$ or minus $(-)$ sign and the amount in the appropriate column. Do not show items that affect net income in the retained earnings column.

Transaction

Cash

Other Assets

Liabilities

Paid$-$in Capital

Retained Earninas

Treasurv Stock

Net Income