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ASAP PLEASE Prepare Journal Entries for the information in the picture, and then orepare a peatial balance sheet The following shareholders' equity accounts are reported
ASAP PLEASE
Prepare Journal Entries for the information in the picture, and then orepare a peatial balance sheet
The following shareholders' equity accounts are reported by Wildhorse Inc. on January 1: Common shares (unlimited authorized, 166,500 issued) Preferred shares ($4 cumulative, convertible, 100,000 authorized, 6,100 issued) Contributed surplus-reacquisition of common shares Retained earnings The following selected transactions occurred during the year: Feb. Mar. June 14 July Sept. 16 Oct. Dec. 25 11 Issued 55,500 common shares at $20 per share. 2 Reacquired 20,600 common shares at $22 per share. Split the common shares 2 for 1 when the common shares were trading at $30 per share. Reacquired 490 preferred shares at $70 per share. Reacquired 55,500 common shares for $17 per share. Declared a 5% common stock dividend distributable on December 13 to shareholders of record on November 24. The fair value of the common shares on October 27 was $19 per share. 27 $2,664,000 13 457,500 32,200 1,271,000 Distributed the stock dividend declared on October 27. The fair value of the common shares on December 13 was $21 per share.
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