On January 16, Evergreen Market was changed to a corporation. Henry Berg received 400 shares of common
Question:
On January 16, Evergreen Market was changed to a corporation.
Henry Berg received 400 shares of common stock in exchange for his
$40,500 equity in the business. He immediately sold 100 of these shares for $10,000 cash.
What changes, if any, should be made in the January 15 balance sheet so that it reports the financial condition on January 16?
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