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    Santiago Corp A Publicly Traded Company Had 2 500 Preferred Shares

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    Bube Kachevska
    Santiago Corp, a publicly traded company, began the year with 2,500 preferred shares valued at $55,000 and 140,000 common shares valued at $700,000. During the year, they issued 50,000 common shares for $5 each, 1,000 preferred shares for $25 each, 10,000 common shares in exchange for land valued at $65,000, and 1,500 preferred shares for $30 each.

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    Santiago Corp A Publicly Traded Company Had 2 500 Preferred Shares

    Uploaded by

    Bube Kachevska
    22 views1 page
    Santiago Corp, a publicly traded company, began the year with 2,500 preferred shares valued at $55,000 and 140,000 common shares valued at $700,000. During the year, they issued 50,000 common shares for $5 each, 1,000 preferred shares for $25 each, 10,000 common shares in exchange for land valued at $65,000, and 1,500 preferred shares for $30 each.

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    Santiago Corp a Publicly Traded Company Had 2 500 Preferred Shares

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    Santiago Corp a Publicly Traded Company Had 2 500 Preferred Shares

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    Santiago Corp, a publicly traded company, began the year with 2,500 preferred shares valued at $55,000 and 140,000 common shares valued at $700,000. During the year, they issued 50,000 common shares for $5 each, 1,000 preferred shares for $25 each, 10,000 common shares in exchange for land valued at $65,000, and 1,500 preferred shares for $30 each.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Download as pdf or txt
    22 views1 page

    Santiago Corp A Publicly Traded Company Had 2 500 Preferred Shares

    Uploaded by

    Bube Kachevska
    Santiago Corp, a publicly traded company, began the year with 2,500 preferred shares valued at $55,000 and 140,000 common shares valued at $700,000. During the year, they issued 50,000 common shares for $5 each, 1,000 preferred shares for $25 each, 10,000 common shares in exchange for land valued at $65,000, and 1,500 preferred shares for $30 each.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Santiago Corp a publicly traded company had 2 500

    preferred shares #8658


    Santiago Corp a publicly traded company had 2 500 preferred shares

    Santiago Corp., a publicly traded company, had 2,500 preferred shares issued with a balance of
    $55,000 and 140,000 common shares issued with a balance of $700,000 at the beginning of the
    year. The following share transactions occurred during the year:

    June 12 Issued 50,000 common shares for $5 per share.

    July 11 Issued 1,000 preferred shares for $25 per share.

    Oct. 1 Issued 10,000 common shares in exchange for land. The common shares were trading
    for $6 per share on that date. The fair value of the land was estimated to be $65,000.

    Nov. 15 Issued 1,500 preferred shares for $30 per share.

    Instructions

    (a) Record the above transactions.

    (b) Calculate the average cost (rounded to the nearest cent) for each of the preferred and
    common shares.

    Santiago Corp a publicly traded company had 2 500 preferred shares

    ANSWER
    http://paperinstant.com/downloads/santiago-corp-a-publicly-traded-company-
    had-2-500-preferred-shares/

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