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The numbers are wrong, and all the labels except the additional paid in capital is right United Resources Company obtained a charter from the state
The numbers are wrong, and all the labels except the additional paid in capital is right
United Resources Company obtained a charter from the state in January of this year. The charter authorized 219,000 shares of common stock with a par value of $2. During the year, the company earned $481,000 Also during the year, the following selected transactions occurred in the order given: Sold 83.000 shares of the common stock in an initial public offering at $19 cash per share, Repurchased 23,000 shares of the previously issued shares at $22 cash per share. Resold 9.000 of the shares of the treasury stock at $25 cash per share. Required: Prepare the stockholders' equity section of the balance sheet at the end of the year. (Amounts to be deducted should be indicated with a minus sign.)Step by Step Solution
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