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Bramble Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations,
Bramble Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock. Feb. 1 Issued 29,200 shares for cash at $51 per share. Issued 43,800 shares for cash at $56 per share. July 1 (a) Assets = Liabilities + Cash = + Common Stock Feb. 1 $ $ ta $ July 1 holders' Equity Retained Earnings Dividend Revenue Expense $ ta tained Earnings Dividend ta
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