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The stockholder' equity accounts of Flounder Corporation on January 1, 2022, were as follows. During 2022, the corporation had the following transactions and events pertaining
The stockholder' equity accounts of Flounder Corporation on January 1, 2022, were as follows. During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 26,000 shares of common stock for $122,000. Apr. 14 Sold 6,000 shares of treasury stock-common for $33,900. Sept. 3 Issued 5,200 shares of common stock for a patent valued at $35,000. Nov. 10 Purchased 1,100 shares of common stock for the treasury at a cost of $6,100. Dec. 31 Determined that net income for the year was $420,000. No dividends were declared during the year. Question 6 of 6 0.67/1 5
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