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    The Charter of Cherry Blossom Corporation Authorizes The Issuance of PDF

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    The document describes stock transactions of Cherry Blossom Corporation over a two month period in which it issued common and preferred stock for cash and inventory. It authorized the issuance of 900 shares of preferred stock and 3,500 shares of common stock. In March it issued 210 shares of common stock for $10 per share. In April it received inventory and equipment worth $41,000 in exchange for 350 shares of common stock, and issued 900 shares of preferred stock for $50 per share.

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    The Charter of Cherry Blossom Corporation Authorizes The Issuance of PDF

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    The document describes stock transactions of Cherry Blossom Corporation over a two month period in which it issued common and preferred stock for cash and inventory. It authorized the issuance of 900 shares of preferred stock and 3,500 shares of common stock. In March it issued 210 shares of common stock for $10 per share. In April it received inventory and equipment worth $41,000 in exchange for 350 shares of common stock, and issued 900 shares of preferred stock for $50 per share.

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    The document describes stock transactions of Cherry Blossom Corporation over a two month period in which it issued common and preferred stock for cash and inventory. It authorized the issuance of 900 shares of preferred stock and 3,500 shares of common stock. In March it issued 210 shares of common stock for $10 per share. In April it received inventory and equipment worth $41,000 in exchange for 350 shares of common stock, and issued 900 shares of preferred stock for $50 per share.

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    © All Rights Reserved
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    43 views1 page

    The Charter of Cherry Blossom Corporation Authorizes The Issuance of PDF

    Uploaded by

    Let's Talk With Hassan
    The document describes stock transactions of Cherry Blossom Corporation over a two month period in which it issued common and preferred stock for cash and inventory. It authorized the issuance of 900 shares of preferred stock and 3,500 shares of common stock. In March it issued 210 shares of common stock for $10 per share. In April it received inventory and equipment worth $41,000 in exchange for 350 shares of common stock, and issued 900 shares of preferred stock for $50 per share.

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    The charter of Cherry Blossom Corporation authorizes the

    issuance of #452
    The charter of Cherry Blossom Corporation authorizes the issuance of 900 shares of preferred
    stock and 3,500 shares of common stock. During a two-month period, Cherry Blossom
    completed these stock-issuance transactions:Mar. 23 Issued 210 shares of $1 par value
    common stock for cash of $10 per share.Apr. 12 Received inventory with a market value of
    $25,000 and equipment with a market value of $16,000 for 350 shares of the $1 par value
    common stock.17 Issued 900 shares of 6%, $50 par value preferred stock for $50 per
    share.Requirements1. Record the transactions in the general journal.2. Prepare the
    stockholders’ equity section of the Cherry Blossom balance sheet as of April 30, 2016, for the
    transactions given in this exercise. Retained Earnings has a balance of $70,000 at April 30,
    2016.View Solution:
    The charter of Cherry Blossom Corporation authorizes the issuance of

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