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Preparing stockholders equity
Aug 9 Issued 10,000 shares of $5.00 par common stock for cash of $12.00 per share.
Nov 3 Issued 1,000 shares of $4,00 no par preferred stock for $49,000 cash. 11 Received inventory valued at $14,000 and equipment with market value of $11,000 for 3,900 shares of the $5.00 par common stock. Prepare the stockholders' equity section of Hambrick Sales' balance sheet. The ending balance of retained earnings is a deficit of $42,000. |
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