Information taken from the post-closing trial balance of iFund Inc. is provided below. All accounts have...

 

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Information taken from the post-closing trial balance of iFund Inc. is provided below. All accounts have normal ending balances. Show computation to get possible partial points. Retained Earnings Paid in Capital in Excess of Par- Preferred Common Stock Treasury Stock (1,500shares) Preferred Stock Common Stock Dividends Distributable Paid in Capital in Excess of Par- Common $1,200,000 $535,000 $15,000 $60,000 $50,000 $10,000 $125,000 1). Compute iFund's Total Capital Stock on its balance sheet. 2). If the par value on the common stock is $2/share, how many common shares are issued? I Information taken from the post-closing trial balance of iFund Inc. is provided below. All accounts have normal ending balances. Show computation to get possible partial points. Retained Earnings Paid in Capital in Excess of Par- Preferred Common Stock Treasury Stock (1,500shares) Preferred Stock Common Stock Dividends Distributable Paid in Capital in Excess of Par- Common $1,200,000 $535,000 $15,000 $60,000 $50,000 $10,000 $125,000 1). Compute iFund's Total Capital Stock on its balance sheet. 2). If the par value on the common stock is $2/share, how many common shares are issued? I

Answer rating: 100% (QA)

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