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Tom Yuppy, a wealthy investor, paid $31,320 for 1,080 shares of $10 par common stock issued to him by Leuig Corp. A month later, Leuig
Tom Yuppy, a wealthy investor, paid $31,320 for 1,080 shares of $10 par common stock issued to him by Leuig Corp. A month later, Leuig Corp. issued an additional 2,160 shares of stock to Yuppy for $29 per share. Required: Show the effect of the two stock issues on Leuig's books in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank. Income Statement LEUIG CORP. Horizontal Statements Model Balance Sheet Stockholders' Equity Revenue Common PIC in Stock Excess Assets Expense - Net Income Statement of Cash Flow Event Cash Land 1 - Common Stock 2 - Issue of additional shares ++
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