Question: Can you please help with part a & b, thank you so much in advance! North Wind Aviation received its charter during January auth izing
Can you please help with part a & b, thank you so much in advance!North Wind Aviation received its charter during January auth izing the following capital stock: 60,000 Common stock: par $1 The following transactions occurred during the first year of operations in the order given: a. Issued a total of 49,000 shares of the common stock for $11 per share. b. Issued 10,000 shares of the preferred stock at $12 per share. c. Issued 3,900 shares of the common stock at $16 per share and 1,000 shares of the preferred stock at $12. d. Net income for the first year was $57,000. Required Prepare the ance NORTH WIND AVIATION Balance Sheet (P Stockholders' Equity Additional Paid-in Capital, Common Stock Total in January to During January and February, the following stock transactions were completed: b. Issued 19,500 shares of preferred stock at $39 per share; collected in cash
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