The Kors Hospital Supply Corporation was organized at the end of last year. The company is...
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The Kors Hospital Supply Corporation was organized at the end of last year. The company is authorized to issue the following shares of stock: • 100,000 shares of $10 par value common stock . 20,000 shares of $50 par value preferred stock. On March 1, the company issued the following: • 40,000 shares of its common stock for $14 per share 15,000 shares of its preferred stock for $50 per share. ● 1. Prepare the journal entries to record the stock issuance 2. Prepare the Stockholders Equity section of the Balance Sheet after the stock issuance ◆ Retained Earnings = $350,000 ◆ No Treasury Stock The Kors Hospital Supply Corporation was organized at the end of last year. The company is authorized to issue the following shares of stock: • 100,000 shares of $10 par value common stock . 20,000 shares of $50 par value preferred stock. On March 1, the company issued the following: • 40,000 shares of its common stock for $14 per share 15,000 shares of its preferred stock for $50 per share. ● 1. Prepare the journal entries to record the stock issuance 2. Prepare the Stockholders Equity section of the Balance Sheet after the stock issuance ◆ Retained Earnings = $350,000 ◆ No Treasury Stock
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Related Book For
Horngrens Financial and Managerial Accounting The Financial Chapters
ISBN: 978-0134486857
6th edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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