Question

0 8 Homework X Assignment Print View X Chapter 4 - INTRODUCTION X C G Homework Help With Tom Yuppy, a wealthy in x + ezto.mheducation.com/hr.tpx?todoc 15Single Print ViewBesingleQuestion No.4.&postSubmission View=13252712507514891&wid=13252712293850683&role-stu. 123Movies Watch Live NBA Streaming Maintenance Conn. Connect - Sign In The GOAT, Let's gra... Award: 14.28 points Exercise 8-11 Issuing stock for cash LO 8-4 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 2.100 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 collblank Income Statement LEUIG CORP Horizontal Statements Model Balance Sheet Stockholders' Equity Revenue Land Common + PIC in Statement of cash - Expense - Net Income Assets Event Cash + Excess 1 - Common Stock 2 - Issue of additional Shares 130/2020 903 e PHILIPS

Answer 1

LEUIG CORP.
Horizontal Statement Model
	Balance Sheet	Income Statement
Events	Assets	=	Stockholders' Equity	Revenue	-	Expense	=	Net Income	Statement of cash flow
Cash	+	Land	=	Common Stock	+	PIC in Excess		-
1. Common Stock	$31,320	+	0	=	$10,800	+	$20,520	-	-	-	=	-	$31,320	-
2. Issue of additional share	$62,640	+	0	=	$21,600	+	$41,040	-	-	-	=	-	$62,640	-
	$93,960