At December 31, 2014, Kingston Company reported the following on its comparative balance sheet, which included 2013

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At December 31, 2014, Kingston Company reported the following on its comparative balance sheet, which included 2013 amounts for comparison:

1. How much did Kingston Company€™s total share capital increase during 2014?
What caused total share capital to increase? How can you tell?
2. Did Kingston Company have a profit or a loss for 2014? How can you tell?

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Financial Accounting

ISBN: 978-0132889711

1st Canadian Edition

Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper

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Question Posted: Jul 08, 2015 02:45 AM

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At December 31, 2014, Kingston Company reported the following on its comparative balance sheet, which included 2013

Question:

December 31 2014 2013 Common Shares, 500,000 shares authorized 350,000 shares issued and outstanding in 2014; 349,000 shares in 2013 Retained Earnings 473,000 439,250 2,500,000 2,250,000

Step by Step Answer:

1 Common shares December 31 2014 473000 Common shares December 31 2013 439250 Total increase ...View the full answer

Financial Accounting

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