Question

The Kingston Company reported the following on its balance sheet at December 31, 2014:
Common Shares, 500,000 shares authorized,
350,000 shares issued and outstanding ...... $ 473,000
Retained Earnings ............... 2,500,000
Assume Kingston Company issued all of its shares during 2014. Journalize the company’s issuance of the shares for cash.


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  • CreatedJuly 08, 2015
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