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Ayayai Corp. was organized on January 1, 2022. It is authorized to issue 19,000 shares of 5%, $50 par value preferred stock and 450,000 shares
Ayayai Corp. was organized on January 1, 2022. It is authorized to issue 19,000 shares of 5%, $50 par value preferred stock and 450,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year.
Jan. | 10 | Issued 65,000 shares of common stock for cash at $4 per share. | |
Mar. | 1 | Issued 1,100 shares of preferred stock for cash at $54 per share. | |
May | 1 | Issued 110,000 shares of common stock for cash at $5 per share. | |
Sept. | 1 | Issued 4,000 shares of common stock for cash at $4 per share. | |
Nov. | 1 | Issued 2,000 shares of preferred stock for cash at $54 per share. |
Post to the stockholders equity accounts. (Post entries in the order of journal entries posted in the previous part.)
Prepare the paid-in capital portion of the stockholders equity section at December 31, 2022.
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