Question: Bretton Manufacturing Co has the following selected account balances at

Bretton Manufacturing, Co. has the following selected account balances at April 30, 2014.
Common Shares, 140,000 shares authorized,
issued, and outstanding ........ $560,000
Accumulated Depreciation,
Machinery and Equipment... ....... 14,000
Retained Earnings .......... 150,000
Inventory .............. $ 55,000
Machinery and Equipment ......... 77,000
Preferred Shares, 5%, 20,000 shares authorized,
6,000 shares issued and outstanding ..... 102,000
Cost of Goods Sold ........... 76,000
Requirement
Prepare the shareholders’ equity section of the company’s balance sheet.

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  • CreatedJuly 08, 2015
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