Recording Transactions Affecting Stockholders’ Equity King Corporation began operations in January of the current year. The charter authorized the following stock:

Preferred stock: 10 percent, $13 par value, 40,000 shares authorized
Common stock: $8 par value, 85,900 shares authorized

During the current year, the following transactions occurred in the order given:

a. Issued 23,300 shares of common stock for $12 per share.
b. Sold 7,700 shares of the preferred stock at $23 per share.
c. Sold 2,100 shares of the preferred stock at $23 per share and 2,000 shares of common stock at $13 per share.

Required:
Provide the journal entries required to record each of the transactions in (a) through (c).

The market for corn in country a is highly competitive. at the current market price of $5/bushel there is a shortage of 100,000 bushels of corn in this country. media reports claim that the price of corn will rise drastically in the near future. according to these reports, the neighboring country b had witnessed a similar situation recently. at the same price, the shortage in country b was also 100,000 bushels and eventually the equilibrium price in b went up to $10/bushel. both countries are known to have equal number of corn producers and the market supply of corn is identical at all prices. this, combined with the fact that consumers in the two countries also have similar tastes and preferences, led the media to conclude that the price of corn in country a would soon be as high as $10/bushel. the new equilibrium price turns out to be below $10/bushel, what inferences can be drawn?

What are the main advantages and disadvantages of organizing a firm as a c corporation? the advantages are: (select all the choices that apply.) a. there is no limit on the number of owners a c corporation may have, thus allowing the corporation to raise substantial amounts of capital. b. the life of the business can continue beyond the death of any of the owners. c. the corporation can use the assets of the owners to pay for corporate liabilities. this attracts smaller investors to the corporation. d. the liability of the owners is limited to the amount of their investment in the firm. the disadvantages are: (select all the choices that apply.) a. income to a c corporation is subject to double taxation, once at the corporate level and again when received by the owners in the form of a dividend. b. the life of the business usually ends with the death of any of the owners. c. the c corporation is more complicated and more expensive to set up than other business entities. d. corporate liabilities can be passed on to the share

Juwana was turned down for a car loan by a local credit union she thought her credit was good what should her first step be