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amount to be reported for (1) preferred stock, and (2) paid-in capital in e

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amount to be reported for (1) preferred stock, and (2) paid-in capital in excess In its first year of operations, Arid Corporation had the following transactions pertaining to its $10 par value preferred stock. Feb. 1 Issued 6,000 shares for cash at $43 per share. Nov. 1 Issued 3,000 shares for cash at $45 per share. Instructions (a) Journalize the transactions. (b) Indicate the amount to be reported for (1) preferred stock, and (2) paid-in capital in excess of par — preferred stock at the end of the year. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

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