Question

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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