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Required information [The following information applies to the questions displayed below.) The following selected transactions occurred for Corner Corporation: February 1 Purchased 570 shares of

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Required information [The following information applies to the questions displayed below.) The following selected transactions occurred for Corner Corporation: February 1 Purchased 570 shares of the company's own common stock at $37 cash per share; the stock is now held in treasury. July 15 Issued 185 of the shares purchased on February 1 for $47 cash per share. September 1 Issued 145 more of the shares purchased on February 1 for $32 cash per share. Required: 1. Indicate the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account balances with a minus sign.) Assets = Liabilities Stockholders' Equity + + = = + February 1 July 15 July 15 September 1 September 1 + + +

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