The following is the Paid-In Capital section of stockholders? equity for the Royce Corporation on June 1,
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The following is the Paid-In Capital section of stockholders? equity for the Royce Corporation on June 1, 201X:
Preferred Stock, $104 par, authorized 24,000 shares, 4,000 shares issued |
$ 416,000 |
Paid-In Capital in Excess of Par Value-preferred Stock |
115,000 |
Common Stock, $23 par, authorized 50,000 shares, 21,000 shares issued |
483,000 |
Paid-In Capital in Excess of Par Value-Common Stock |
170,000 |
Total Paid-In Capital |
$1,184,000 |
The following transactions occurred in the months of June and July:
1. Journalize the entries and update the stockholders? equity ledger.
2. Prepare a new Paid-In Capital section of stockholders? equity as of July 31, 201X.
CorporationA Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Related Book For
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
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