The shareholders’ equity section of O’Ryan Corporation’s balance sheet at December 31, 2011, appears


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The shareholders’ equity section of O’Ryan Corporation’s balance sheet at December 31, 2011, appears 1 answer below » The shareholders’ equity section of O’Ryan Corporation’s balance sheet at December 31, 2011, appears below: Shareholders’ equity Share capital Common shares, no par value, 4000,000 shares authorized; 300,000 issued and outstanding $4,200,000 Total share capital 4,200,000 Retained earnings 800,000 Total shareholder’s equity 5,000,000 During 2012, the following transaction occurred: Jan. 18 issued 60,000 common shares at $20 per share. a. Prepare the journal entry to record the above transaction b. Prepare the shareholders’ equity section of the balance sheet for O’Ryan Corporation at View complete question » The shareholders’ equity section of O’Ryan Corporation’s balance sheet at December 31, 2011, appears below: Shareholders’ equity Share capital Common shares, no par value, 4000,000 shares authorized; 300,000 issued and outstanding $4,200,000 Total share capital 4,200,000 Retained earnings 800,000 Total shareholder’s equity 5,000,000 During 2012, the following transaction occurred: Jan. 18 issued 60,000 common shares at $20 per share. a. Prepare the journal entry to record the above transaction b. Prepare the shareholders’ equity section of the balance sheet for O’Ryan Corporation at December 31, 2012. Assume that net earnings for the year were $150,000 and that no dividends were declared. Attachments: Q.-Attachment….docx View less » Sep 07 2015 06:23 PM

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