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P14-5 $2,218 250 P14-5A On January 1, 2017,...

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Accounting

P14-5

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$2,218 250 P14-5A On January 1, 2017, Shelenburger Inc. had the followving stocklenetHopar e st daia account balances. stockholder Common Stock, no-par value (500,000 shares issued) 1,500,000 Common Stock Dividends Distributable equity section, reflectin various events LO 1, 2, 3) Retained Earnings 200,000 600,000 During 2017, the following transactions and events occurred. 1. Issued 50,000 shares of common stock as a result of a 10% stock dividend declared on December 15, 2016. 2. Issued 30,000 shares of common stock for cash at $6 per share 3. Corrected an error that had understated the net income for 2015 by $70,000. 4. Declared and paid a cash dividend of $80,000 5. Earned net income of $300,000. Instructions Prepare the stockholders' equity section of the balance sheet at December 31, 2017. Total stockholders 2,770,000

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