Assume WCP Corporation's acticles of incorporation authorize issuance of 11,000 preferred shares with an annual...
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Accounting
Assume WCP Corporation's acticles of incorporation authorize issuance of preferred shares with an annual dividend of $ per share and an unlimited number of common shares. On July the company issued preferred shares at a stated price of $ per share and common shares at $ per share.
a Joumalize the initial issuance of the shares
b Calculate total contibuted capital and total shareholders equity, assuming retained earnings is now $
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