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Inside Incorporated was issued a charter on January 15 authorizing the following capital stock: 2 Common stock, $6 par, 100,000 shares, one vote per share.
Inside Incorporated was issued a charter on January 15 authorizing the following capital stock: 2 Common stock, $6 par, 100,000 shares, one vote per share. Preferred stock, 7 percent, par value $10 per share, 5,000 shares, nonvoting. 11 points The following selected transactions were completed during the first year of operations in the order given: a. Issued 10,000 shares of the $6 par common stock at $13 cash per share. b. Issued 2,000 shares of preferred stock at $17 cash per share. c. At the end of the year, the accounts showed net income of $28,000. eBook Print Required: 1. Prepare the stockholders' equity section of the balance sheet at December 31. INSIDE INCORPORATED Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital: Total Contributed Capital Total Stockholders' Equity
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