The owners are desirous of comparing serval financial transactions and possible outcomes to assist in guiding their decision-making process. They assume that the company will be formed on January 1, 2020. In addition, E&B Comic Bookstore Company’s charter will authorize 1,200,000 shares of common stock (to be divided into two classes (700,000 shares class A -voting rights and 500,000 shares class B -nonvoting rights) and 400,000, $X par value (see info below), 5% cumulative preferred stock. A.Issued _50% ___shares of class A common stock. Stock has par value of _$ 45.00__ per share and was issued at $_75___ per share. B.Issued ___50%__ shares of no-par class B stock .(issue price $ 70.00) C. Issued __25%_____ shares of preferred stock at par value. ( Par value $ 145.00) D.Exchanged __40% of authorized shares of class A common stock for Office Furniture and Equipment with an appraised value of $___$ 4,000,000.00___ and Motor Truck with an appraised value of $ 10,000,000.00___. E.Earned Net income $__$ 1,400,000.00____. F.Declared interim dividends for preferred shareholders as well as $.80 per share to common stockholders. Prepare the company’s Stockholders equity section of the balance sheet Thefollowing information must be clearly stated/shown: • information on par or par values for all classes of shares which must be shown separately. • the number of shares authorized and issued where necessary. • the sub total for the total paid in capital. • Retained earnings. • total stockholders’ equity
4.The owners are desirous of comparing serval financial transactions and possible outcomes to assist in guiding their decision-making process. They assume that the company will be formed on January 1, 2020. In addition, E&B Comic Bookstore Company’s charter will authorize 1,200,000 shares of common stock (to be divided into two classes (700,000 shares class A -voting rights and 500,000 shares class B -nonvoting rights) and 400,000, $X par value (see info below), 5% cumulative preferred stock.
A.Issued _50% ___shares of class A common stock. Stock has par value of _$ 45.00__ per share and was issued at $_75___ per share.
B.Issued ___50%__ shares of no-par class B stock .(issue price $ 70.00)
C. Issued __25%_____ shares of preferred stock at par value. ( Par value $ 145.00)
D.Exchanged __40% of authorized shares of class A common stock for Office Furniture and Equipment with an appraised value of $___$ 4,000,000.00___ and Motor Truck with an appraised value of $ 10,000,000.00___.
E.Earned Net income $__$ 1,400,000.00____.
F.Declared interim dividends for preferred shareholders as well as $.80 per share to common stockholders.
Prepare the company’s
• information on par or par values for all classes of shares which must be shown separately.
• the number of shares authorized and issued where necessary.
• the sub total for the total paid in capital.
•
• total stockholders’ equity
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