Application Of Accounting Equation
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Show how each of the following transactions affects the accounting equation.
A. June 1. Issued 60,000 shares of $0.04 par value common stock for cash of $110,600.
B. August 1. Issued 2,500 shares of $105.00 par value preferred stock for cash at $154.00 a share.
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This solution discusses the transactions and its affects on the accounting equation.
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A. June 1. Issued 60,000 shares of $0.04 par value common stock for cash of $110,600.
Assets in form of Cash will increase by $110600.
Shareholder equity ...
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