Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. sagan co. had these transactions during the curren

Sagan Co. had these transactions during the current period. June 12 Issued 80,000 shares of...

60.1K

Verified Solution

Question

Accounting

image

Sagan Co. had these transactions during the current period. June 12 Issued 80,000 shares of $ 1 par value common stock for cash of $ 300,000. July 11 Issued 3,000 shares of $ 100 par value preferred stock for cash at $ 106 per share. Nov. 28 Purchased 2,000 shares of treasury stock for $ 9,000. Prepare a tabular summary to record the Sagan Co. transactions. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Cash + Common Stock + PIC in Exce June 22 300,000 80,000 $ July 11 318000 Nov. 28 9000 e Teythook and Media

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Cash BudgetKhloe Company imports gift items from overseas and sells them togift shops and...Cash...

Accounting
Q

Using traditional methods it takes 110.0 hours to receive a basic driving license. A new license...

Statistics
Q

You have just learned that you will have three students with disabilities in your classroom. List...

Psychology
Q

Target Corporation is the second-largest discount store retailer in the United States, behind Walmart, and a...

Operations Management
Q

Let A be a closed subset of a T4 topological space. Show that A with the relative topology...

Advance Math
Q

Consumers can bypass television and newspaper advertising Price comparisons can be handled instantly Competition between...

Basic Math
Q

A function f x is transformed into the function g x 2 x 4 7...

Basic Math
Q

Compute the surface area of revolution about the x axis over the interval y x...

Calculus
Q

Atomic Microwave Company, a manufacturer of microwave ovens, had the following activities, allocated costs, and...

Accounting
Q

Required information [The following information applies to the questions displayed below.] A manufacturer reports the...

Accounting
Q

The shareholders' equity of Deer Ltd. at the end of 2016 and 2015 appeared as...

Accounting
Q

Direct Method, Variable versus Fixed Costing and Performance Evaluation Airborne is a small airline operating...

Accounting