the following transactions arw for bictor company in 2017:

Stock Issuance The following transactions are for Victor Company in 2017: Required: 1. Identity and analyze the effect of each transaction a. On March 1, the corporation was organized and received authorization to issue 5,000 shares of 84, 5100 par value preferred stock and 2,000,000 shares of $10 per value common stock How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry and leave the amount box blank. If the effect on a financial statement item is negative, L., a decrease be sure to enter the answer with a minus sign Balance Sheet Income statement Stockholders Equity Assets Liabilities Revenues No Entry o No Entry o No Entry No try No Entry Check My Wor Identify and analyze the transaction by using the following steps: . Determine activity - Operating, investing or financing R. Determine accounts affected and the amount of increases/decreases b. Determine the financial statements affected balance sheet, income statement The accounting equation must balance for each transaction A business develops articles of incorporation and applies to the proper state authorities for a corporate charter for incorporation. The maximum number of shares specified for issue is called authorized to Determine if assets, labilities, or equity changed. If yes, an entry needs to be made. If not, no entry is needed b. On March 10, Victor issued 6,000 shares of common stock at $35 per share Activity Financing Accounts Cash Increase, Common Stock Increase, Additional Paid-in Capital - Common Increase Statement(s) Balance Sheet only How does this entry affect the accounting equation? If a financial statement item is not affected, select 'No Entry and leave the amount box blank. If the effect on a financial statement item is negative, le, a decrease, be sure to enter the answer with a minus Balance Sheet Liabilities Assets 210,000 V Stockholders Equity 200,000,000 X Revenues Cash No Entry No Entry No Entry Common Stock Additional Paid-In Capital - Common No Entry 125,000 x No Entry c. On March 18, Victor issued 100 shares of preferred stock at $180 per share. Activity Financing Accounts Cash Increase, Preferred Stock Increase, Additional Paid-in Capital - Preferred Increase Statement(s) Balance Sheet only How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry and leave the amount box blank. If the effect on a financial statement item is negative, Le, a decrease, be sure to enter the a Balance Sheet Assets Liabilities Stockholders Equity Cash 18,000 V No Entry Revenues 0 Preferred Stock No Entry 0 No Entry D 0 Additional Pald-In Capital - Preferred No Entry No Entry Partially correct Chapter 11 Homework (Application) eBook Calculator d. On April 12, Victor Issued another 10,000 shares of common stock at $50 per share. Activity Financing Accounts Cash Increase, Common Stock Increase, Additional Pald-in Capital - Common Increase Statement(s) Balance Sheet only Feedback How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry and leave the amount box blank. If the effect on a financial statement item is negative, le, a decrease, be sure Balance Sheet Assets Liabilities Stockholders' Equity Cash 50,000 x No Entry 0 No Entry Common Stock Additional Paid-In Capital - Common No Entry 0 No Entry 0 No Entry Feedback Check My Work Partially correct 2. Prepare the Stockholders' Equity section of the balance sheet as of December 31, 2017 Victor Company Partial Balance Sheet - Stockholders' Equity Section December 31, 2017 8% Preferred stock, $100 par value, 5,000 shares authorized, 100 shares issued and outstanding Common stock, $10 par value, 2,000,000 shares authorized, 16,000 shares issued and outstanding Additional paid-in capital-preferred stock Additional paid-in capital-common stock Total contributed capital Feedback Check My Work Prepare Stockholders' Equity section in proper form with company name, statement title and date. List the contributed capital line items and total contrit