ral accour prite Franchise, accounting as appear belov Preferred stock, 7%, $40 par, 600 shares authorized, cumulative, 300 shares issued $ 9,600 Common treasury stock, 200 shares at cost Additional paid-in capital-preferred Retained earnings Common stock, $4 par value, authorized 4,000 shares 16,000 12,800 19,200 3,200 Additional paid-in capital – common 36,800 The market price of the stock on December 31 was $20 per share. All the shares of common stock were issued on May 1, two years earlier.

ral accour prite Franchise, accounting as appear belov Preferred stock, 7%, $40 par, 600 shares authorized, cumulative, 300 shares issued $ 9,600 Common treasury stock, 200 shares at cost Additional paid-in capital-preferred Retained earnings Common stock, $4 par value, authorized 4,000 shares 16,000 12,800 19,200 3,200 Additional paid-in capital – common 36,800 The market price of the stock on December 31 was $20 per share. All the shares of common stock were issued on May 1, two years earlier.

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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