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Please show how to calculate each answer and I'm not certain if my journal entries are correct, thank you! The Golden Mushroom has two classes
Please show how to calculate each answer and I'm not certain if my journal entries are correct, thank you!
The Golden Mushroom has two classes of stock authorized: 8%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024 , its first year of operations: January 2 Issues 100,000 shares of common stock for $28 per share. February 6 Issues 2,300 shares of 88 preferred stock for $12 per share. September 10 Purchases 10,000 shares of its own common stock for $33 per share. December 15 Resells 5,000 shares of treasury stock at $38 per share. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Require in the first account field.)Step by Step Solution
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