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After looking into debt financing through notes, mortgage, and bonds payable, Better Boat Company decides...

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Accounting

After looking into debt financing through notes, mortgage, and bonds payable, Better Boat Company decides to raise
additional capital for a planned business expansion. The company will be able to acquire cash as well as land adjacent
to its current business location. Before the following transactions, the balance in Common Stock on January 1,2027 was
$1,100,000 and included 110,000 shares of common stock issued and outstanding. (There was no Paid-In Capital in
Excess of Par-Common.) Better Boat Company had the following transactions in 2027:
(3)(Click the icon to view the transactions.)
Read the requirements.
Preferred Stock-$15 Par Value
Paid-In Capital in Excess of Par-Preferred
150,000
30,000
Issued preferred stock in exchange for land.
Dec. 15: Declared total cash dividends of $50,000.
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