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"Homework Quiz—6 Redo 02-12

"Homework Quiz—6 Redo 02-12

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Name Section Homework Quiz—6 Replace Recall that: Cash + ∆ Other Assets = L + PIC + BRE + R – X + G – L – D Transaction 1. ABC Company sold (issued) 10,000 shares of its $12 par value common stock for $31.50 per share. 2. ABC Company purchased from shareholders, at a cost of $28.90 per share, 1,500 shares of its $12 par value common stock. 3. ABC Company sold for $32.50 per share 1,000 shares of its Treasury stock acquired in Transaction 2. 4. ABC Company sold for $24 per share, 200 shares of its Treasury Stock acquired in Transaction 2. Assume Transaction 3 has occurred and has been recorded. For each of the items below indicate the dollar effect on the financial statement element noted. If there is no effect, write “no effect.” a. The effect of Transaction 1 on Total Assets is: b. The effect of Transaction 1 on Total Paid-in Capital is: c. The effect of Transaction 1 on Retained Earnings is: d. The effect of Transaction 1 on Total Stockholders’ Equity is: e. The effect of Transaction 2 on Total Assets is: f.
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