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Pharoah Holdings Inc. has authorized share capital of an unlimited number of common shares and 1 , 0 0 0 , 0 0 0 $
Pharoah Holdings Inc. has authorized share capital of an unlimited number of common shares and $cumulative prefe shares. At January the balances in its share capital accounts were $ in common shares representing shares $ in preferred shares representing shares. The company had a balance of $ in contributed surplus from previc years' repurchases of common shares. The retained earnings balance on that date was $ and accumulated other comprehensive income was $ Profit for the year ended December was $ and other comprehensive income items for the year were $ There were no dividends in arrears at January and no dividends were declared during March Issued common shares for $ each.
June Issued preferred shares for $ each.
Sept Issued common shares in exchange for land valued at $
Dec Reacquired cormon shares for $ each. journalize the share entries. prepare the equity section of pharoah's balance sheet at dec
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