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timed assingment please help! Eastport Incorporated was organized on June 5, Year 1. It was authorized to issue 480,000 shares of $9 par common stock
timed assingment please help!
Eastport Incorporated was organized on June 5, Year 1. It was authorized to issue 480,000 shares of $9 par common stock and 65,000 shares of 4 percent cumulative class A preferred stock. The class A stock had a stated value of $20 per share. The following stock transactions pertain to Eastport incorporated: 1. Issued 19,000 shares of common stock for $14 per share. 2. Issued 10,000 shares of the class A preferred stock for $25 per share. 3. Issued 57,000 shares of common stock for $17 per share. Required a. Prepare general journal entries for these transactions. b. Prepare the stockholders' equity section of the bolance sheet immediately after these transactions. Complete this question by entering your answers in the tabs below. Prepare the stockholders' equity section of the baiance sheet immediately affer these transactions Step by Step Solution
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