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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 48
Journalizing corporate transactions and preparing the stockholders' equity section of the balance sheet
B-Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes B-Mobile to issue 70,000 shares of 5%, $100-par preferred stock, and 110,000 shares of no-par common stock. B-Mobile completed the following transactions:
Requirements
1. Record the transactions in the general journal.
2. Prepare the stockholders' equity section of the B-Mobile balance sheet at October 31. The ending balance of Retained earnings is $92,000.
B-Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes B-Mobile to issue 70,000 shares of 5%, $100-par preferred stock, and 110,000 shares of no-par common stock. B-Mobile completed the following transactions:
Requirements
1. Record the transactions in the general journal.
2. Prepare the stockholders' equity section of the B-Mobile balance sheet at October 31. The ending balance of Retained earnings is $92,000.
Explanation
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2.
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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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