The shareholders' equity section of Superior Corporation's balance sheet as of December 31, 2012, is as follows

Question:

The shareholders' equity section of Superior Corporation's balance sheet as of December 31, 2012, is as follows

The shareholders' equity section of Superior Corporation's balance sheet as

Required:
1. Prepare journal entries for each of the above transactions.
2. Calculate the number of authorized, issued, and outstanding common shares as of December 31, 2013.
3. Calculate Superior's legal capital at December 31, 2013.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Related Book For  book-img-for-question

Intermediate Accounting Reporting and Analysis

ISBN: 978-1285453828

2nd edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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