Required information
PAAlgo Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial
Balance Sheet Involving Stock Issuance and Purchase Transactions LO
The following information applies to the questions displayed below.
Global Marine obtained a charter from the state in January that authorized shares of common stock, $ par
value. During the first year, the company earned $ of net income and declared no dividends; the following
selected transactions occurred in the order given:
a Issued shares of the common stock at $ cash per share.
b Reacquired shares at $ cash per share.
c Reissued shares from treasury for $ per share.
d Reissued shares from treasury for $ per share.
PAAlgo Part
Required:
Indicate the account, amount, and direction of the effect on above transaction. Enter any decreases to Assets, Liabilities and
Stockholders' Equity with a minus sign.
