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(enter the beginning balances in the accounts and post the journal entries to the stockholders equity accounts) Thank you so much in advance! The stockholders'
(enter the beginning balances in the accounts and post the journal entries to the stockholders equity accounts)
Thank you so much in advance!
The stockholders' equity accounts of Metlock, Inc. on January 1, 2022, were as follows. During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 24,500 shares of common stock for $123,000. Apr. 14 Sold 5,500 shares of treasury stock-common for $33,700. Sept. 3 Issued 5,200 shares of common stock for a patent valued at $34,600. Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $6,100. Dec. 31 Determined that net income for the year was $480,000. No dividends were declared during the yearStep by Step Solution
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