CALCULATOR PRINTER VERSION BACK NEXT Problem 13-06A -b (Video) Ayuyal Corporation has been authorized to issue 20,000 shares of $100 per value, 10%, preferred stock and 888,000 shares of no-per common stock. The corporation assigned a $2.40 stated value to the common stock. At December 31, 2020, the longer contained the following balances pertaining to stockholders' equity Preferred Stock $100,000 Paid-in Capital in Excess of Par-Preferred Stock 40,000 Common Stock 888,000 Paldin Capital in Excess of Stated Value-Common Stock 1,332,000 Treasury Stock (800 common shares) 8,300 Paid in Capital from Treasury Stock 1,200 Retained Earnings 80,000 Accumulated Other Comprehensive Income 50,000 The preferred stock was issued for land having a fair value of $140,000. A common stock issued was for cash. In November, 1.200 shares of common stock were purchased for the treasury at a per share cost of $11. In December, 400 shares of treasury stock were sold for $14 per share. No dividends were declared in 2020. Prepare the journal entries for the: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) Issuance of preferred stock for land 12) Issuance of common stock for cash (3) Purchase of common treasury stock for cash (4) Sale of treasury stock for cash No. Account Titles and Explanation Debit Credit TOR PRINTE s Prepare the journal entries for the: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) Issuance of preferred stock for land. (2) Issuance of common stock for cash (3) Purchase of common treasury stock for cash. (4) Sale of treasury stock for cash. No. Account Titles and Explanation Debit Credit 1. 2 dy 3 Asimet Prepare the stockholders' equity section at December 31, 2020. (Enter the account name only and do not provide the descriptive information provided in the question.) AYAYAI CORPORATION Balance Sheet(Partial) Excel CALCULATOR PRINTER VERSION BACK Click if you would like to show Work for this questioni Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT VIDEO SIMILAR