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Required information (The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 4,000 shares of
Required information (The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 4,000 shares of $5 par value common stock for $35,000 cash. 2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has a $1 per share stated value. 3. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has no stated value. 4. A corporation issued 1,000 shares of $50 par value preferred stock for $60,000 cash. alyze each transaction from issuances of stock by showing its effect on the accounting equation, specifically, identify the accounts d amounts (including + or -) for each transaction. Answer is not complete. Assets Liabilities Common Stock, $5 Par Value X ) decrease Equity Paid-In Capital in Excess of Par Value, Common Stock Cash (+) increase 35,000 20,000 X + 10.000 + + + + + + +
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