Question: please help me with this questions. its one question with many parts. make sure to answer all for a up vote and i have 1


Choctaw Co. completed the following transactions in Year 1, the first year of operation: 1. Issued 20,000 shares of $10 par common stock for $10 per share. 2. Issued 3,000 shares of $20 stated value preferred stock for $20 per share. 3. Purchased 1,000 shares of common stock as treasury stock for $12 per share. 4. Declared a $2,000 cash dividend on preferred stock. 5. Sold 500 shares of treasury stock for $14 per share. 6. Paid $2,000 cash for the preferred dividend declared in Event 4. 7. Earned cash revenues of $78,000 and incurred cash expenses of $41,000. 3. Appropriated $8,000 of retained earnings. Required a. Organize the transaction in accounts under an accounting equation, b. Prepare the stockholders' equity section of the balance sheet as of December 31 . Year 1 . Earnings, leave the cell blankc) Prepare the stockholders' equity section of the balance sheet as of December 31 , Year 1 . (Negative amount should be indicated by a minus sign.)
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