Stockholders' equity Total stockholders' equity

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 380,000 shares of $11 par common stock and 40,000 shares of 4 percent cumulative class A preferred stock. The class A stock had a stated value of $25 per share. The following stock transactions pertain to Eastport Inc.:
 

  1. Issued 21,000 shares of common stock for $16 per share.
  2. Issued 7,000 shares of the class A preferred stock for $30 per share.
  3. Issued 59,000 shares of common stock for $19 per share.

 

b. Prepare the stockholders’ equity section of the balance sheet immediately after these transactions.

Stockholders' equity
Total stockholders' equity
Transcribed Image Text:Stockholders' equity Total stockholders' equity
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