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Shareholders' equity Share capital $10 convertible preferred shares, 10,000 shares authorized, 5000 shares issued Common shares no par value $610000

Shareholders' equity Share capital $10 convertible preferred shares, 10,000 shares authorized, 5000 shares issued Common shares no par value $610000

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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Nash's Trading Corporation has the following shareholders equity on December 31, ZUZ4: Shareholders' equity Share capital $10 convertible preferred shares, 10,000 shares authorized, 5000 shares issued Common shares, no par value, 200,000 shares authorized, 100000 shares issued Total share capital Retained earnings Total shareholders' equity $610000 O $10619 O $50000 O $51240 O $6720 1600000 2210000 446000 $2656000 If 420 preferred shares are converted into common shares what is the dollar value of the common s
Transcribed Image Text:Nash's Trading Corporation has the following shareholders equity on December 31, ZUZ4: Shareholders' equity Share capital $10 convertible preferred shares, 10,000 shares authorized, 5000 shares issued Common shares, no par value, 200,000 shares authorized, 100000 shares issued Total share capital Retained earnings Total shareholders' equity $610000 O $10619 O $50000 O $51240 O $6720 1600000 2210000 446000 $2656000 If 420 preferred shares are converted into common shares what is the dollar value of the common s
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