question 1

The shareholders' equity of Allen * 5 points Corporation appears below: Contributed capital: Preferred shares, $6,5,000 shares authorized, 500 shares issued $ 55,000 Common shares, 200,000 shares authorized, 30,000 shares issued 900,000 Total contributed capital 955,000 Retained earnings 256,000 Total shareholders' equity $1,211,000 The entry to record the issuance of 1,000 common shares for $35 per share would be