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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
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 6,000 shares of $10 par value common stock for $72,000 cash. 2. A corporation issued 3,000 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 3,000 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 1,500 shares of $75 par value preferred stock for $152,500 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. Indicate which activities of Stockton Corporation violated the rights of a stockholder who owned one share of common stock. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Paid the stockholder a smaller dividend per share than another common stockholder. ? In liquidation, paid the common shareholder after preferred stockholders were already paid. Rejected the stockholder's sale of stock on an organized exchange. ? When additional common stock was later issued, the company did not give the shareholder the preemptive right to protect her proportionate interest. Did not allow the stockholder to make decisions regarding hiring and firing employees
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