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Required information Skip to question [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. A corporation issued 7,000

Required information

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

Following are the issuances of stock transactions.

A corporation issued 7,000 shares of $20 par value common stock for $168,000 cash.

A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $42,000. The stock has a $1 per share stated value.

A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $42,000. The stock has no stated value.

A corporation issued 1,750 shares of $25 par value preferred stock for $85,750 cash.

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.

Assets = Liabilities + Equity
1. = +
1. = +
2. = +
2. = +
2. = +
3. = +
3. = +
4. = +
4.

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