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The following images show the problem that I need assistance with. Acct 2302 problem 11-3A Problem 11-3A The stockholders' equity accounts af Castle Corpuration on
The following images show the problem that I need assistance with. Acct 2302 problem 11-3A
Problem 11-3A The stockholders' equity accounts af Castle Corpuration on January 1, 2017 were as follows. referred Stock (8%, $48 p cumulative, 1. 000 shares authorize 408,000 stated value, 950,000 sh 1,250 aaa Paid-in Capit n Excess Par-Preferred Stock 00,000 Paid-in Capital in Excess of Stated Value-Ca man Stock 400,000 d E 1,900,000 Treasury Stock 000 common shares 55,000 g 20 had its stodk q tr nts penta Feb. 1 sued 26,000 shares of common stock for $122,000. 4 Sold 6,000 shares of treasury stock-common for $33,900 of common stock for a patent valued at $35,000 Sept. 3 00 sh Now. 0 Purc 00 ess of common stoc e tre ry at a cost $6.100. 31 De ed that net $420,000, No dividends w re declared during the year. Journalize the transactions and the closing entry for net incom e. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry ter 0 for thStep by Step Solution
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