Enter the following column headings across the top of a sheet of paper.;Transaction Cash Other Assets Liabilities Paid in Capital Retained Earnings;Treasury Stocks and Net Income;Enter the transaction letter in the first column and show the effect (if any) of each of the following transactions on each financial statement category by entering a plus (+) or minus (-) sign and the amount in the appropiate column. Do not show items that effect net income in the retained earnings column. You may also write the entries to record these transactions. You should assume that the transactions occurred in the listed chronological sequence and that no stock had been previously issued. (Hint remember to consider appropriate effects pf previous transactions.);A) Issued 1,500 shares of $100 par value preferred stock at par.;B) Issued 2,400 shares of $100 par value preferred stock in exchange for land that had appraised value of $306,000;C) Issued 69,000 shares of $5 par value common stock for $11 per share.;D) Purchased 13,500 shares of common stock for the treasury at $13 per share.;E) Sold 6,000 shares of the treasury stock purchased in transaction d for $14 per share.;F) Declared a cash dividend of $1.75 per share on the preferred stock outstanding, to be paid early next year.;G) Declared and issued a 5% stock dividend on the common stock when the market price per share of common stock was $15.00;Show your work in excel;Attachments;Transaction Analysis Example.xls
Transaction Analysis-Various Accounts
This question was answered on: Dec 18, 2020
Buy this answer for only: $15
This attachment is locked
We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free solution (Deadline assured. Flexible pricing. TurnItIn Report provided)
Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
About this QuestionSTATUS
Dec 18, 2020EXPERT
GET INSTANT HELP
We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.
You can also use these solutions:
- As a reference for in-depth understanding of the subject.
- As a source of ideas / reasoning for your own research (if properly referenced)
- For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).