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Math  /  Algebra

QuestionCarla Vista Corporation was organized on January 1,2027. It is authorized to issue 23,000 shares of 5%,$505 \%, \$ 50 par value preferred stock and 458,000 shares of no-par common stock with a stated value of $2\$ 2 per share, The following stock transactions were completed during the frist year.
Jan. 10 Issued 69,000 shares of common stock for cash at $5\$ 5 per share. Mar. 1 Issued 11,400 shares of preferred stock for cash at $57\$ 57 per share. May 1 Issued 114,000 shares of common stock for cash at $8\$ 8 per share. Sept. 1 Issued 4,800 shares of common stock for cashat $4\$ 4 per share. Nov. 1 Issued 2,800 shares of preferred stock for cash at $55\$ 55 per share. (a)
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Prepare a tabular summary to record the transactions. (If a transoction couses a decrease In Assets, Liabivilies or Stochholders' Equity. place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Uability or Equity item that was neduced.). eTextbook and Media Solution Attempts: 3 of 3 used (b)
Prepare the paid-tic capital portion of the stockholders equity section at December 31, 2027. CARLA vista corporation Partial Balance Sheet December 31, 2027 □\square □\square □\square □\square 3 □\square □\square □\square □\square □\square

Studdy Solution
Prepare the paid-in capital portion of the stockholders' equity section: - Preferred Stock: \$710,000 - Additional Paid-in Capital on Preferred Stock: \$93,800 - Common Stock: \$375,600 - Additional Paid-in Capital on Common Stock: \$900,600
The paid-in capital portion of the stockholders' equity section at December 31, 2027, is as follows:
Preferred Stock:$710,000Additional Paid-in Capital on Preferred Stock:$93,800Common Stock:$375,600Additional Paid-in Capital on Common Stock:$900,600\begin{array}{l} \text{Preferred Stock:} \quad \$710,000 \\ \text{Additional Paid-in Capital on Preferred Stock:} \quad \$93,800 \\ \text{Common Stock:} \quad \$375,600 \\ \text{Additional Paid-in Capital on Common Stock:} \quad \$900,600 \\ \end{array}

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