C 13 Required information [The following information applies to the questions displayed below.) Part 1...
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C 13 Required information [The following information applies to the questions displayed below.) Part 1 of 3 Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $400,000 of net income and declared no dividends; the following selected transactions occurred in the order given: 0.66 points a. Issued 100,000 shares of the common stock at $55 cash per share. b. Reacquired 25,000 shares at $50 cash per share. c. Reissued 10,000 shares from treasury for $51 per share. d. Reissued 10,000 shares from treasury for $49 per share. eBook Print References Required: 1. 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.) Assets Liabilities + Stockholders' Equity a. Cash + + b. = + C. = + C. = + d. + d. +
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