Carson Corporation Has the Following Shares Outstanding at December 31

question 236

Essay

Carson Corporation has the following shares outstanding at December 31, 2014:
7% Preference shares, $100 par value, cumulative
15,000 shares issued and outstanding $1,500,000
Ordinary shares, no par, $10 stated value, 500,000 shares authorized,
350,000 shares issued and outstanding 3,500,000
The preference shares were issued at $110 per share. The ordinary shares were issued at an average per share price of $16.
Instructions
Prepare a partial equity section of the statement of financial position at December 31, 2014.

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Definitions:

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