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Problem - A corporation was organized on January 1, 20x3, with the following authorized share capital: 17084 common shares, no par value
5138, $.05, cumulative preferred shares, no par value
During 20x3, the corporation issued 14150 common shares for $418754 and 4319 preferred shares at $28 per share. On December 20, 20x3, subscriptions for 1036 preferred shares were taken at a purchase price of $36. These subscribed shares were paid for on January 2, 20x4. How to calculate the total contributed capital on December 31, 20x3, balance sheet of this corporation?
Financial Statement Analysis and Preparation
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