Bridgeport Corporation has been authorized to issue 21,000 shares of $100 par value, 10%, preferred stock and 1,037,500 shares of no-par common stock. The corporation assigned a $2.50 stated value to the common stock. At December 31, 2022, the ledger contained the following balances pertaining to stockholders' equity. Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Treasury Stock (1,040 common shares) Paid-in Capital from Treasury Stock Retained Earnings 182 $125,000 15,000 1,037,500 1,452,500 11,440 1,560 83,000 The preferred stock was issued for land having a fair value of $140,000. All common stock issued was for cash. In November, 1,560 shares of common stock were purchased for the treasury at a per share cost of $11. In December, 520 shares of treasury stock were sold for $14 per share. No dividends were declared in 2022.

Bridgeport Corporation has been authorized to issue 21,000 shares of $100 par value, 10%, preferred stock and 1,037,500 shares of no-par common stock. The corporation assigned a $2.50 stated value to the common stock. At December 31,2022 , the ledger contained the following balances pertaining to stockholders' equity. The preferred stock was issued for land having a fair value of $140,000. All common stock issued was for cash. In November, 1.560 shares of common stock were purchased for the treasury at a per share cost of $11. In December, 520 shares of treasury stock were sold for $14 per share. No dividends were declared in 2022. No, Account Titles and Explanation Debit Credit 1. 2. 3. 4. eTextbook and Media List of Accounts Save tor Later Attempts: 0 of 3 used