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Transaction analysis-various accounts [The following information applies to the questions displayed below.] For the following transactions. a. Issued 460 shares of $110 par value preferred

Transaction analysis-various accounts

[The following information applies to the questions displayed below.]

For the following transactions.

a. Issued 460 shares of $110 par value preferred stock at par.
b.

Issued 880 shares of $110 par value preferred stock in exchange for land that had an appraised value of $112,200.

c. Issued 21,000 shares of $6 par value common stock for $13 per share.
d. Purchased 5,000 shares of common stock for the treasury at $14 per share.
e. Sold 1,900 shares of the treasury stock purchased in transaction d for $17 per share.
f.

Declared a cash dividend of $1.45 per share on the preferred stock outstanding, to be paid early next year.

g.

Declared and issued a 4% stock dividend on the common stock when the market price per share of common stock was $15. (Assume state law allows stock dividends and stock splits on treasury stock.)

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Problem 8-30 Part 1 Required Show the effect (if any) of each of the above transactions on each financial statement category by selecting a plus (+) or minus (-) or NE for no effect sign and the amount in the appropriate column. Do not show items that affect net income in the retained earnings column. You should assume that the transactions occurred in the listed chronologic al sequence and that no stock had been previously issued. (Hint: Remember to consider appropriate effects of previous transactions.) (For the Treasury Stock column related to transactions d and e, enter the effect as it relates to Treasury Stock and not to the right-side of the accounting equation. For example, if the transaction causes an increase in Treasury Stock by $20,000, then enter the effect as +20,000.) TransactionCash Other Assets Liabilities Paid-in Capital Retained Earnings Treasury Stock Net Income a. C. d

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