Question: I need help on the last part. Thanks! Problem 11-5A (Part Level Submission) Bramble Corp. has been authorized to issue 19,200 shares of $100 par
Problem 11-5A (Part Level Submission) Bramble Corp. has been authorized to issue 19,200 shares of $100 par value, 7%, noncumulative and 1,020,000 shares of no-par common stock. preferred stock The corporation assigned a $4 stated value to the common stock. At December 31, 2017, the ledger contained the following balances pertaining to stockholders' equity Preferred Stock Paid-in Capital in Excess of Par Value-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Treasury Stock (3,200 common shares) Retained Earnings Accumulated Other Comprehensive Income $142,000 20,200 1,920,000 1,430,000 35,200 81,000 48,200 The preferred stock was issued for $162,200 cash. All common stock issued was for cash. In November 3,200 shares of common stock were purchased for the treasury at a per share cost of $11. No dividends were declared in 2017 (1) Issuance of preferred stock for cash (2) Issuance of common stock for cash. (3) Purchase of common treasury stock for cash. No. Account Titles and Explanation Debit Credit 1. Cash 162200 Preferred Stock 142000 Paid-in Capital in Excess of Par Value-Preferred St 20200 2. Cash 3350000 Common Stock 1920000 Paid-in Capital in Excess of Stated Value-Common 1430000 3. Treasury Stock 35200 Cash 35200 Click if you would like to Show Work for this question: Open Show Work V (b) Prepare the stockholders' equity section of the balance sheet at December 31, 20127. BRAMBLE CORP Partial Balance Sheet Click if you would like to Show Work for this question: Open Show Work
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