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need help with how to do the balance sheet Recording Stock Issues Jackson Corporation was organized in 2016 in Arizona. Its state charter authorized it

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need help with how to do the balance sheet
Recording Stock Issues Jackson Corporation was organized in 2016 in Arizona. Its state charter authorized it to issue 1 million shares of $1 par value common stock and 25,000 shares of 4 percent, $20 par value cumulative and convertible preferred stock. Jackson's stock transaction during 2017 were as follows: Feb. 1 Issued 100,000 shares of common stock for $125,000. 15 Issued 3,000 shares of common stock for accounting and legal services. The bill for these services totaled $3,600. Mar 15 Issued 120,000 shares of common stock to Edward Jackson in exchange for a building and land appraised at $100,000 and $25,000, respectively Apr2 Purchased 20,000 shares of common stock for the treasury at $1.25 per share from a person who July 1 Issued 25,000 shares of preferred stock for $500,000 Sept 30 Sold 10,000 of the shares in treasury for $1.50 per share. Dec. 31 Jackson's board of directors declared dividends of $24,910 payable on January 15, 2018, to changed her mind about investing in the company. stockholders of record on January 7. Dividends included preferred stock dividends of $10,000 for one-half year. For the period ended December 31, 2017, Jackson reported net income of $40,000 and earnings per common share of $.14. At December 31, the market price per common share was $1.60. Required: a. Record Jackson's stock transactions b. Prepare the stockholders' equity section of Jackson's balance sheet as of December 31, 2017

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