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please answer all parts as it is one question Novak Corporation, a private corporation, was organized on February 1,2023. It is authorized to issue B4.000,
please answer all parts as it is one question
Novak Corporation, a private corporation, was organized on February 1,2023. It is authorized to issue B4.000, 36 noncumulative preferred shares, and an unlimited number of common shares. The following transactions were completed during the first year: Feb. 10 Issued 67.200 common shares at $4 per share. Mar. 1 lssued 4,200 preferred shares at $114 per share. Apr. I Is5ued 18,900 common shares for land. The land's asking price was $84,000 and its appraised value was 575,600 . June 20 Issued 65.520 common shares at $4.50 per share. July 7 I5wued 8.400 common shares to lawyers to pary for their bill of $37,800 for services they performied in hefping the came Sept I Issued 8.400 commansharesat 55 per share. Nou. 1 issued 840 preferned shares at $120 per share. problem (Lot all debit entries before coedit entries]) Debit Journalize the transactions. (Credit account titles are outomotically indented when the amount is entered. Do not indent mareall if no entry ts required, select "No Entry" for the account titles and enter 0 for the omounts. Recond joumal entries in the order prasentied in the problem. List all debit entries before credit entries.) Determine the number of shares issued and the average per share amount for both common and preferred shares. (Round overage per share to 2 decimai places, es. 52.75.) How many more shares is the company authorized to ksue for each class of shares? The comgany is authorised to issue an additional preferred shares and an number of cornmon shares Step by Step Solution
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