Question: solve this please Problem Solving: 124 marks] Bell Inc. began operations on January 3,2017, and immediately issued 7500 comrron shares for each of $2.5 per
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solve this please
Problem Solving: 124 marks] Bell Inc. began operations on January 3,2017, and immediately issued 7500 comrron shares for each of $2.5 per share. On January 4, 700 common shares were issued to promoters in exchange for their services in selling shares of the corporation. The costs were charged to organization expenses. The shares were valued at $1250. On January 12, 6000 preferred shares were issued for cash of $7.50 per share. In February 3,10000 common shares were issued in exchange focaland at $ 27500. On February 27, 2000 more preferred shares were issued for total cash of $19500. C. a. Prepare a journal entry an accountant would use to record the transactions [8] b. Prepare a statement of change in equity for the month ended in February 28,2017. Assume a loss of $6000 was realized in January, profit earned was $70000 and dividends totalling $6700 had been declared and paid in February.[8] Assume the assets totalled to $385000 at February 28,2017, what percentage of the assets was financed by [5] i. Total debt ii. Total equity iii. Equity of preferred shareholders iv. Equity of common share holders
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