! 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 7,000 shares of $10 par value common stock for $84,000 cash. 2. A corporation issued 3,500 shares of no-par common stock to its promoters In exchange for their efforts, estimated to be worth $41,000. The stock has a $1 per share stated value. 3. A corporation issued 3,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $41,000. The stock has no stated value. 4. A corporation Issued 1,750 shares of $50 par value preferred stock for $128,500 cash. Exercise 11-5 (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. Assets Liabilities Equity 1. Cash (+) increase 2 X Cash X(+) increase Paid-In Capital in Excess of Stated Value. Common Stock Common Stock, $1 Stated Value Cash (+) increase Common Stock, No-Par Value X X 3. + 4 Cash (+) increase