Question: Please include the calculations for how you got each answer. Thanks! E13-24 (similar to) Question Help The charter of Cherry Blossom Corporation authorizes the issuance
Please include the calculations for how you got each answer. Thanks!


E13-24 (similar to) Question Help The charter of Cherry Blossom Corporation authorizes the issuance of 900 shares of preferred stock and 3,500 shares of common stock. During a two-month period, Cherry Blossom completed these stock-issuance transactions: i (Click the icon to view the transactions.) Read the requirements. Requirement 2. Prepare the stockholders' equity section of the Cherry Blossom balance sheet as of April 30, 2018, for the transactions given in this exercise. Retained Earnings has a balance of $80,000 at April 30, 2018. Cherry Blossom Corporation Balance Sheet (Partial) April 30, 2018 Stockholders' Equity Paid-In Capital: 3,500 shares authorized, 580 shares issued and outstanding Preferred Stock-5%, $10 Par Value; 900 shares authorized, issued, and outstanding Common Stock-$3 Par Value; Total Paid-In Capital Paid-In Capital in Excess of Par-Common Total Stockholders' Equity X i More Info Mar 23 Issued 250 shares of $3 par value common stock for cash of $16 per share. Apr. 12 Received inventory with a market value of $25,000 and equipment with a market value of $16,000 for 330 shares of the $3 par value common stock. 17 Issued 900 shares of 5%, $10 par value preferred stock for $10 per share. Print Done
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