Skipped eBook Print ច References Required Information Problem 8-27 (Algo) Transaction analysis-various accounts LO 1, 2, 4, 6 [The following information applies to the questions displayed below.] Refer to the following transactions. a. Sold 5,000 shares of $40 par value 7% preferred stock at par. b. Declared the annual dividend on the preferred stock. c. Purchased 550 shares of preferred stock for the treasury at $52 per share. d. Issued 2,500 shares of $3 par value common stock in exchange for land valued at $116,000. e. Sold 284 shares of the treasury stock purchased in transaction c for $58 per share. f. Split the common stock 2-for-1. Problem 8-27 (Algo) Part 1 Required: Show the effect (if any) of each of the above transactions on each financial statement category by selecting a plus (+) or minus (-) sign and the amount in the appropriate column. Do not show Items that affect net income in the retained earnings column. Cash Other Assets Liabilities Paid-in Capital Retained Earnings Treasury Stock Net Income Transaction a. b C. d. e. f.
