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Tom Yuppy, a wealthy investor, paid $54,120 for 1,320 shares of $10 par common stock issued to him by Leuig Corp. A month later Leuig
Tom Yuppy, a wealthy investor, paid $54,120 for 1,320 shares of $10 par common stock issued to him by Leuig Corp. A month later Leuig Corp. issued an additional 2.640 shares of stock to Yuppy for $41 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 TOM YUPPY CO Horizontal Statements Model Balance Sheet Income Statement Assets -Stockholders' Equity Revenue ExpenseNet Income Statement of Cash Flow Event common Stock Cash + Land Excess 1 - Common Stock 2- Issue of additional shares 54,120 FA 08240 FA 54.120 108 240+
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