Earth Star Diamonds Inc. began a potentially lucrative mining operation

Earth Star Diamonds Inc. began a potentially lucrative mining operation on October 1, 2014. It is authorized to issue 100,000 shares of $0.60 cumulative preferred shares and 500,000 common shares.

Part A
Required Prepare journal entries for each of the transactions listed.

Earth Star Diamonds Inc. began a potentially lucrative mining operation

Part B
Required
Based on the transactions in Part A, prepare the balance sheet as at October 31,2014.

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