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how how each of the following transactions affects the accounting equation: March 1 April 1 June 30 Issued 75,000 shares of $
April 1: Issued 1,000 shares of $95 par value preferred stock for cash at $115 per share (Use parentheses or a minus sign w c
June 30: Purchased 1,000 shares of treasury stock for $3.00 per share (ie, the company bought its own common stock in the sto
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Answer #1
Assets = Liabilities + Contributed Capital + Retained earnings
$ Account $ Account $ Account $ Account
Mar-01 99750 Cash = + 1500 Common stock
= + 98250 Paid in capital in excess of par-Common stock
Apr-01 115000 Cash = + 95000 Preferred Stcok
= + 20000 Paid in capital in excess of par-Preferred stock
Jun-30 -3000 Cash = + -3000 Treasury Stock
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