Question
a company was organized on June 1st 2014 it was authorized to issue 450,000 shares of $12 par common stock and fifty thousand shares of
a company was organized on June 1st 2014 it was authorized to issue 450,000 shares of $12 par common stock and fifty thousand shares of 5% cumulative class a preferred stock the class A stock had a stated value of $25 per share the following stock transactions pertain to the company
A. issued 22,000 shares of common stock for $16 per share B. issued 13,000 shares of the class a preferred stock for $27 per share C. issued 41,000 shares of common stock for $20 per share
prepare the stockholders Equity section of the balance sheet immediately after these transactions have been organized
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