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Can anyone help with identifying where my answers were wrong Requirement # 1 : Cody Mountain Sports is looking to raise additional funding for their
Can anyone help with identifying where my answers were wrong
Requirement #:
Cody Mountain Sports is looking to raise additional funding for their business to expand. They will be
acquire cash in addition to a new vehicle for their employees to use for travel to guided tours. Before
following transactions, their balance of common stock on April st was $ and included
shares of common stock issued and outstanding. There was no PaidIn Capital In Excess of
ParCommon and no preferred stock issued at this point. Cody Mountain Sports had the following
transactions in April :
Apr. Issued shares of $ par value common stock or a total of $
Apr. Issued shares of $ par value preferred stock in exchanged for the truck with
market value of $
Apr. Declared total cash dividends of $
April Declared a common stock dividend when the market value of the stock was $ share
Apr Paid the cash dividends.
Apr. Distributed the stock dividend.
Journalize all transactions.
Calculate the balance in Retained Earnings as of April th Assume the
balance on April st was $ and the net income was $
Prepare the stockholders' equity section of the balance sheet as of April th
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