Presentation1 - P151 TeamB:ShanePotter,Samantha...

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Click to edit Master subtitle style 4/18/11 P15-1 Team B: Shane Potter, Samantha  Bradley, Sabrina Slate, Jennifer Sinches,  & Irene Novruzova
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4/18/11 Introduction :  P15-1 (Equity  Transactions and Statement  On January 5, 2007, Drabek Corporation received a  charter granting the right to issue 5,000 shares of  $100 par value, 8% cumulative and nonparticipating  preferred stock, and 50,000 shares of $5 par value  common stock. It then completed these transactions. Jan. 11 Feb. 1 July 29 August 10 Dec 31
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4/18/11 Jan. 11 Jan. 11 Issued 20,000 shares of common stock at  $16 per share. Account Debit Credit Cash 320,000.00 Common Stock  (20,000 X 5$) 100,000.00 Paid-in Capital  in excess of par- common 220,000.00
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4/18/11 Feb. 1 Feb. 1 Issued to Robb Nen Corp. 4,000 shares of  preferred stock for the following assets:  machinery with a fair market value of $50,000; a 
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Presentation1 - P151 TeamB:ShanePotter,Samantha...

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