week 14 pt.1

During its first year of operations, Pina Colada Corp. had these transactions pertaining to its common stock. Jan 10 Issued 26,100 shares for cash at $4 per share, Issued 55,500 shares for cash at $8 per share. July 1 (a) Prepare a tabular summary to record the transactions, assuming that the common stock has a par value of $4 per share. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Cash Paid-In-Capital + PIC in Exces Common Stock Jan. 10 $ $ July 1 During its first year of operations, Pina Colada Corp. had these transactions pertaining to its common stock. Issued 26,100 shares for cash at $4 per share. July 1 Issued 55,500 shares for cash at $8 per share. Jan. 10 (a) Prepare a tabular summary to record the transactions, assuming that the common stock has a par value of $4 per share. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity n-Capital PIC in Excess of Par Com. Retained Earnings Dividend + Revenue Expense $ $ $ $