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Need help completing the balance sheet for the Stockholder's equity of black corporation. Stockholders' Equity Section of the Balance Sheet The stockholders' equity of Black
Need help completing the balance sheet for the Stockholder's equity of black corporation.
Stockholders' Equity Section of the Balance Sheet The stockholders' equity of Black Corporation at January 1 follows: The following transactions, among others, occurred during the year: Jan. 1 Announced a 4-for-1 common stock split, reducing the par value of the common stock to $0.25 per share. June 1 Acquired equipment with a fair market value of $90,000 in exchange for 300 shares of preferred stock. Sept. 1 Acquired 15,000 shares of common stock for cash at $20 per share. Nov. 21 Issued 5,000 shares of common stock at $22 cash per share. Dec. 28 Sold 1,000 treasury shares at $23 per share. 31 Closed net income of $145,000, to the Retained Earnings account. Prepare the stockholders' equity section of the Black Corporation's balance sheet. - Do not use negative signs with your answers. - Round answers to the nearest whole number, when neededStep by Step Solution
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