Question

Pyrogenesis Canada Inc. which was provincially incorporated reported the following equity account balances on December 31, 2013:
Common shares, unlimited shares authorized,
20,000 shares issued and outstanding ............................................................ $690,000
Retained earnings............................................................................................... 405,000
In 2014, the company had the following transactions affecting shareholders and the equity accounts:


Required
1. Prepare journal entries to record the transactions and closings for 2014.
2. Prepare the equity section of the company’s balance sheet as of December 31,2014.


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  • CreatedJanuary 08, 2015
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