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Amber Wison owner ot Canyon Canoe Company decides to start a new company that wil be operated as a corporation. Oundoor Equpment Incorporated (OEI) This company wil soll outdoor ciotming and horze the company to ssue 500.000 preferred shares that pay a dividend of 54 00 per year and 1,000,000 common shares DEI had the tollowng select transactions in 2022 (Click the icon to view the transactions) Begured

Amber Wison owner ot Canyon Canoe Company decides to start a new company that wil be operated as a corporation. Oundoor Equpment Incorporated (OEI) This company wil soll outdoor ciotming and horze the company to ssue 500.000 preferred shares that pay a dividend of 54 00 per year and 1,000,000 common shares DEI had the tollowng select transactions in 2022 (Click the icon to view the transactions) Begured

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Amber Wison, owner of Canyon Canoe Company, decides to start a bew company that wil be operated as a corporaton. Outdoor Equipment Incorporated (OEI) This company wil sell outdoor coming and oqupm aulthorize the company to ssue 500,000 proferred shares that pay a dividend of 54 00 per year and 1,000,000 common shares OEI had the tolowing select transactions in 2022 (Click the icon to view the transactions.) Requced Dec 15 Dectated total cash dividends of $15,000 Date Accounts and Explanation Debit Credit Dec 15 Dec 31 Paid the cash dividends Date Accounts and Explanation Debit Credit Dec. 31 O Tim * = 0 0 O
Transcribed Image Text:Amber Wison, owner of Canyon Canoe Company, decides to start a bew company that wil be operated as a corporaton. Outdoor Equipment Incorporated (OEI) This company wil sell outdoor coming and oqupm aulthorize the company to ssue 500,000 proferred shares that pay a dividend of 54 00 per year and 1,000,000 common shares OEI had the tolowing select transactions in 2022 (Click the icon to view the transactions.) Requced Dec 15 Dectated total cash dividends of $15,000 Date Accounts and Explanation Debit Credit Dec 15 Dec 31 Paid the cash dividends Date Accounts and Explanation Debit Credit Dec. 31 O Tim * = 0 0 O
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