Question Details

Bellingham Corporation has the following stockholders’ equity 


1
On February 1, Burchess Corporation issued 4,000 shares of its $20 par value preferred stock for
$24 per share.
Instructions
Journalize the transaction.


2
Bellingham Corporation has the following stockholders’ equity balances at December 31, 2008:
Common Stock, $1 par $ 3,500
Paid-in Capital in Excess of Par 24,500
Retained Earnings 62,500
Total $90,500
Calculate book value per share.




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