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a) Record the journal entries for the transaction listed in the Excel sheet. b) Prepare the stockholders equity section of the corporations balance sheet as

a) Record the journal entries for the transaction
listed in the Excel sheet.
b) Prepare the stockholders equity section of the corporations balance sheet as of December 31, 2021.
image text in transcribed
Equify Transactlons and Statement Freparation On January 5, 2021, Phelps Corporation received a charter granting the right to issue common and preferred stock as provided below: Instructions: (a) Record the journal entries for the transactions listed above

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