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Beamsley Corporation was organized in 2 0 2 0 to operate a financial consulting business. The charter authorized 1 2 , 0 0 0 common
Beamsley Corporation was organized in to operate a financial consulting business. The charter authorized common shares, no par value. During the first year, the following selected transactions were completed: Issued shares of common shares for cash at $ per share. Issued shares of common shares for cash at $ per share. Required: Show the effects of each transaction on the accounting equation. Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign. Prepare the journal entry required for each of these transactions. If no entry is required for a transactionevent select No journal entry required" in the first account field. Prepare the shareholders equity section as it should be reported on the yearend balance sheet. At yearend, the accounts reflected a profit of $a Beamsley Corporation has $ in the companys bank account. Should the company declare cash dividends at this time? multiple choice Yes No
Beamsley Corporation was organized in to operate a financial consulting business. The charter authorized common shares, no par value. During the first year, the following selected transactions were completed:
Issued shares of common shares for cash at $ per share.
Issued shares of common shares for cash at $ per share.
Required:
Show the effects of each transaction on the accounting equation. Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign. Prepare the journal entry required for each of these transactions. If no entry is required for a transactionevent select No journal entry required" in the first account field. Prepare the shareholders equity section as it should be reported on the yearend balance sheet. At yearend, the accounts reflected a profit of $a Beamsley Corporation has $ in the companys bank account. Should the company declare cash dividends at this time?
multiple choice
Yes
No
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