Carson Corporation has the following capital stock outstanding at December 31, 2019: 9% Preferred stock, $100...

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Carson Corporation has the following capital stock outstanding at December 31, 2019: 9% Preferred stock, $100...

Carson Corporation has the following capital stock outstanding at December 31, 2019:
9% Preferred stock, $100 par value, cumulative
15,000 shares issued and outstanding			$ 1,500,000
Common stock, no par, $10 stated value, 500,000 shares authorized,
350,000 shares issued and outstanding			$ 3,500,000
The preferred stock was issued at	$ 110	per share.
The common stock was issued at	$ 16	per share.

Instructions Prepare the paid-in capital section of the balance sheet at December 31, 2019.

business accounting

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Answer 1

Answer #1

Prepare the shareholder's equity section of the balance sheet as follows:

Amount Carson Corporation Proforma Balance Sheet for the year ended December 31,2019 Particulars Amount |(1) 9% preferred sto

Hence, the total paid-in capital of Carson Corporation for the year ended December 31,2019 is $7,250,000.

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Answer 2

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