Prepare all necessary 2023 journal entries and prepare the stockholders’ equity section of the balance sheet at December 31, 2023. Also note how many shares of common stock were issued and outstanding at December 31st.
Frozen Corporation
December 31, 2022
Common Stock ($6 par)$ 120,000
Additional Paid-in-Capital 200,000
Total Stockholders’ Equity$1,120,000
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On July 1, 2023, the company issued a 3 for 1 stock split when the market value was $70 per share. Cash dividends of $0.75 per share were declared on December 15, 2023, payable on January 31, 2024. Net income for 2023 was $350,000.
Prepare all necessary 2023
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