Question
Bramble Company has two classes of capital stock outstanding: 7%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts
Bramble Company has two classes of capital stock outstanding: 7%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders' equity. Preferred Stock, 149.400 shares $2,988,000 Common Stock, 2,023,000 shares 10,115,000 Paid-in Capital in Excess of Par-Preferred Stock 193,000 Paid-in Capital in Excess of Par-Common Stock 26,760,000 Retained Earnings 4,485,000 The following transactions affected stockholders' equity during 2021. Jan. 1 Feb. 1 28,600 shares of preferred stock issued at $22 per share. 50,000 shares of common stock issued at $18 per share.
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