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:

Colonial Powers

Countries that have established colonies overseas to exploit resources, spread their culture, and exert political control.

Civilization

A complex human society that has developed extensive systems of urbanization, social stratification, specialization of labor, governance, and often written language and culture.

William Birney

William Birney was an American lawyer, Union Army general during the American Civil War, and advocate for the education and civil rights of African Americans.

Spanish-American War

A conflict between Spain and the United States in 1898, resulting in the U.S. acquiring territories like Puerto Rico, Guam, and the Philippines.