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(solution) On January 29, Quality Marble Inc., a marble contractor, issued


On January 29, Quality Marble Inc., a marble contractor, issued for cash 75,000 shares of $10 par common stock at $23, and on May 31, it issued for cash 100,000 shares of $4 par preferred stock at $6.

  • a.Illustrate the effects on the accounts and financial statements of the January 29 and May 31 transactions.
  • b.What is the total amount invested (total paid-in capital) by all stockholders as of May 31?

Exercise 8-17

 

a.

 

Statement of

 

Cash Flows Statement of

 

Cash Flows b. Show your work. Assets = Balance Sheet

 

Liabilities + Assets = Balance Sheet

 

Liabilities + Income Statement

 

Stockholders? Equity Income Statement

 

Stockholders? Equity Exercise 8-22 February 6

 

Statement of

 

Cash Flows Balance Sheet

 

Assets = Income Statement

 

Liabilities + Stockholders? Equity Statement of

 

Cash Flows Balance Sheet

 

Assets = Liabilities + Stockholders? Equity March 9 April 8

 

Income Statement

 

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