Exercise 8-11A (Algo) Issuing stock for cash LO 8-4 Tom Yuppy, a wealthy investor, paid...
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Exercise 8-11A (Algo) Issuing stock for cash LO 8-4 Tom Yuppy, a wealthy investor, paid $58,480 for 1,360 shares of $10 par common stock issued to him by Leuig Corp. A month later, Leuig Corp. issued an additional 2,720 shares of stock to Yuppy for $43 per share. Required Show the effect of the two stock issues on Leuig's books in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank Income Statement LEUIG CORP Horizontal Statements Model Balance Sheet Stockholders' Equity Revenue Land Common PIC in + Stock Excess Assets Expense Statement of + Flow - Not Income Event Cash 1 Common stock 2 - Issue of additional shares
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