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what are the steps I should follow to solve this problem $ 50,000 ILLUSTRATION 13-5 STATEMENT PRESENTATION OF STOCKHOLDERS' EQUITY BOOMER CORPORATION Stockholders' equity Paid-in
what are the steps I should follow to solve this problem
$ 50,000 ILLUSTRATION 13-5 STATEMENT PRESENTATION OF STOCKHOLDERS' EQUITY BOOMER CORPORATION Stockholders' equity Paid-in capital Capital stock 9% Preferred stock, $10 par value, callable at $12, cumulative, 10,000 shares authorized, 5.000 shares issued and outstanding Common stock, no par, $4 stated value, 50,000 shares authorized, 40,000 shares issued, and 39,000 outstanding Total capital stock Additional paid-in capital In excess of par value-preferred stock $ 50,000 In excess of stated value-common stock 240,000 Total additional paid-in capital Total paid-in capital Retained earnings Total paid-in capital and retained earnings Less: Treasury stock-common (1.000 shares) Total stockholders' equity 160,000 210,000 290,000 500,000 300,000 800.000 (15,000) $785,000 - Similar (modified example E 13-7) covered in class - Note: See how we calculated the number of shares issued Extra-Credit Question: Requirement: Prepare 3 separate Journal Entries (J/E) (1) for P/S (2) for C/S and (3) Treasury Stock How many shares where either issued (182) And how many shares were bought Issuance price for both (182) as well as purchasing price for (3) Step by Step Solution
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