In Draco Corporation's first year of business, the following transactions affected its equity accounts. Issued 7,200 shares of $2 par value common stock for $50. It authorized 20,000 shares. • Issued 1,800 shares of 12%, $10 par value preferred stock for $55. It authorized 3,000 shares. Reacquired 360 shares of common stock for $62 each. Retained earnings is impacted by reported net income of $82,000 and cash dividends of $31,000. Prepare the stockholders' equity section of Draco's balance sheet as of December 31. (Amounts to be deducted should be indicate by a minus sign.) DRACO CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Total stockholders' equity
In Draco Corporation's first year of business, the following transactions affected its equity accounts. Issued 7,200 shares of $2 par value common stock for $50. It authorized 20,000 shares. • Issued 1,800 shares of 12%, $10 par value preferred stock for $55. It authorized 3,000 shares. Reacquired 360 shares of common stock for $62 each. Retained earnings is impacted by reported net income of $82,000 and cash dividends of $31,000. Prepare the stockholders' equity section of Draco's balance sheet as of December 31. (Amounts to be deducted should be indicate by a minus sign.) DRACO CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Total stockholders' equity
Chapter1: Financial Statements And Business Decisions
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In Draco Corporation's first year of business, the following transactions affected its equity accounts.
• Issued 7,200 shares of $2 par value common stock for $50. It authorized 20,000 shares.
Issued 1,800 shares of 12%, $10 par value preferred stock for $55, It authorized 3,000 shares.
Reacquired 360 shares of common stock for $62 each.
• Retained earnings is impacted by reported net income of $82,000 and cash dividends of $31,000.
Prepare the stockholders' equity section of Draco's balance sheet as of December 31. (Amounts to be deducted should be indicated
by a minus sign.)
DRACO CORPORATION
Stockholders' Equity Section of the Balance Sheet
es
December 31
Total stockholders' equity
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A (Fall 2021] ACC 211 - D01: Princ x
O Question 8- Chapter 11 Homew x
O New Tab
.mheducation.com/ext/map/index.html?_con3con&external_browser%30&launchUr%=https%253A%252F%252Flms.mheducation.com%252Fmghmiddleware%
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In Draco Corporation's first year of business, the following transactions affected its equity accounts.
• Issued 7,200 shares of $2 par value common stock for $50. It authorized 20,000 shares.
Issued 1,800 shares of 12%, $10 par value preferred stock for $55, It authorized 3,000 shares.
Reacquired 360 shares of common stock for $62 each.
• Retained earnings is impacted by reported net income of $82,000 and cash dividends of $31,000.
Prepare the stockholders' equity section of Draco's balance sheet as of December 31. (Amounts to be deducted should be indicated
by a minus sign.)
DRACO CORPORATION
Stockholders' Equity Section of the Balance Sheet
es
December 31
Total stockholders' equity
< Prey
8 of 13
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