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    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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    Solution Preview

    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 ...

    Solution Summary

    This solution discusses the transactions and its affects on the accounting equation.

    $2.19

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