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Please help with this problem: 1. The stockholders' equity of Medica Company as of 12/31/2016 is as follows: Write the journal entries for each of
Please help with this problem:
1. The stockholders' equity of Medica Company as of 12/31/2016 is as follows: Write the journal entries for each of the following transactions during the year 2017. A) Jan10 Issued 28,000 shares of common stock for $18 cash per share. B) Jan 23 Repurchased 8,000 shares of common stock at $20 cash per share. C) Mar 14 Sold one-half of the treasury shares acquired January 23 for $22 cash per share. D) July 15 Issued 2,600 shares of preferred stock for $128,000 cash. E) What are the total changes in cash and stockholders equity as a result of all of these transactions (Circle one, increase or decrease, and fill in the blank): (1) Cash: Increased or Decreased by (2) Shareholders Equity: Increased or Decreased by Step by Step Solution
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