Stockholders’ equity section of the balance sheetThe charter of Evergreen Capital Corporat...

Stockholders’ equity section of the balance sheet

The charter of Evergreen Capital Corporation authorizes the issuance of 900 shares of preferred stock and 1,250 shares of common stock. During a twomonth period, Evergreen completed these stock-issuance transactions:

Requirements

1. Record the transactions in the general journal.

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2. Prepare the stockholders’ equity section of the Evergreen balance sheet for the transactions given in this exercise. Retained earnings has a balance of $79,000.