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The XYC Co. has been authorized to issue 5,000 shares of 10%, Preferred stocks at P50 par value and 50,000 Common Shares at P10 par
The XYC Co. has been authorized to issue 5,000 shares of 10%, Preferred stocks at P50 par value and 50,000 Common Shares at P10 par value. All the shares have been issued and outstanding. At the end of the year the company incurred a deficit of P 15,000.
Required: Prepare the Stockholders Equity section of the Companys balance sheet.
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