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Stockholders Equity: Transactions and Balance Sheet Presentation Tunic Corporation was organized on April 1, with an authorization of 25.000 shares of six percent, 550 par value preferred stock and 200,000 shares of 55 par value common stock. During April, the following transactions affecting stockholders equity occurred Aerosod 2.000 shares of common stock 17 cash per share 2.200 shares of common stock to attomers and promoters in exchange for their services in organising the corporation. The services were valued at $33.000. 000 chef common in exchange for eviment with a market value of $50,000 20 000 stered in for the persone Credit Debit 94,000 0 0 10000 2000 1000 Required Prepare journal entries to record the above transactions General Journal Date Description Arch Como Stock Wannenrarae Commons dom Ars Or com Com Capaliw at Com isted for More Common Dan woman wurd.com onto comer ca Pelet Pino Parole sures free to 11.00 12.000 50.000 O 0 25.000 H000 10000 0 O 400.000 40.000 b. Prepare the stockholders' equity section of the balance sheet at April 30. Assume that the net income for April is $49.000, Stockholders' Equity Paid in Capital Preferred Stock $ 300,000 x Common Stock 446,000 5 725,000 X Additional Paid in Capital Paid-in-Capital in Excess of Par value- Preferred Stock 60.000 x Paidan Capitalin Excess of Par value Common Stock 1.261,000 K 1,321,000 Total Paid in Capital OX Retained Earnings 51,000 x Total Stockholders. Equity 52,097,000 X Check Partially CORTE Maris for this submission A6 DO

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