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Bramble Corp. was organized on January 1, 2022. It is authorized to issue 20,000 shares of 5%, $52 par value preferred stock and 452,000 shares
Bramble Corp. was organized on January 1, 2022. It is authorized to issue 20,000 shares of 5%, $52 par value preferred stock and 452,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year.
Jan. | 10 | Issued 66,000 shares of common stock for cash at $6 per share. | |
Mar. | 1 | Issued 1,120 shares of preferred stock for cash at $55 per share. | |
May | 1 | Issued 111,000 shares of common stock for cash at $7 per share. | |
Sept. | 1 | Issued 4,200 shares of common stock for cash at $7 per share. | |
Nov. | 1 | Issued 2,200 shares of preferred stock for cash at $57 per share. |
Journalize the transactions.
Post to the stockholders equity accounts.
Prepare the paid-in capital portion of the stockholders equity section at December 31, 2022.
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