Trans Union Corporation issued 6,800 shares for $50 per share in the current year, and it issued 11,800 shares for $37 per share in the following year. The year after that, the company reacquired 21,800 shares of its own stock for $45 per share. Determine the impact (increase, decrease, or no change) of each of these transactions on the following classifications:1. Sold 5,000 Shares what is: A. Total Assets? B. Total Liabilities? C. Total Stockholders Equity? D. Net Income?2. Sold 10,000 Shares: what is: A. Total Assets? B. Total Liabilities? C. Total Stockholders Equity? D. Net Income?3. Purchased 20,0000 of Treasury Stocks: what is: A. Total Assets? B. Total Liabilities? C. Total Stockholders Equity? D. Net Income?

The financial statements are the mandatory records being prepared by the accounting personnel to show the effect of each business transaction in the respective accounts.

The key determinants of the financial statements are:

The effect of any of the transactions will impact two accounts due to the use of the dual effect of bookkeeping.

For the given cases the impacted accounts are shown in the image attached below.

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Answer and Explanation:

The impact of the transactions on the financial statement are as follows

1. In case of Sold 5,000 Shares:

The total Assets Increased by $250,000 i.e (5,000 × $25) as it increased the cash balance

Total Liabilities = No Change

Total Stockholders Equity = Increased by $250,000 as it increased the overall equity

Net Income = No Change.

2. In case of sale of 10,000 shares

The total Assets Increased by $370,000 i.e (10,000 × $37) as it increased the cash balance

Total Liabilities = No Change

Total Stockholders Equity = Increased by $370,000 as it increased the overall equity

Net Income = No Change.

3. In case of  Purchased 20,000 of Treasury Stock

The Total Assets Decreased by $900,000 i.e (20,000 × $45) as it reduced the cash balance

Total Liabilities = No Change

Total Stockholders Equity Decreased by $900,000 as it decreased the overall equity

Net Income = No Change.

Note:

The number of shares given i.e 6,800, 11,800 and 21,800 are incorrect use the 5,000 shares, 10,000 shares and 20,000 shares and we did the computation accordingly

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