Bridgeport Corporation was organized on January 1, 2022. It is authorized to issue 14,500 shares of 8%, $100 par value preferred stock, and 464,000 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 81,500 shares of common stock for cash at $6 per share.
Mar.	1		Issued 4,300 shares of preferred stock for cash at $110 per share.
Apr.	1		Issued 22,500 shares of common stock for land. The asking price of the land was $87,000. The fair value of the land was $83,500.
May	1		Issued 85,000 shares of common stock for cash at $4.25 per share.
Aug.	1		Issued 12,000 shares of common stock to attorneys in payment of their bill of $40,500 for services performed in helping the company organize.
Sept.	1		Issued 12,000 shares of common stock for cash at $6 per share.
Nov.	1		Issued 2,500 shares of preferred stock for cash at $114 per share.

A.Journalize all transactions.

b.Post to the stockholders equity accounts

C.Prepare the paid-in capital section of stockholders equity at December 31, 2022.

Preferred Stock Common Stock >