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Concord Corporation was organized on January 1, 2022. It is authorized to issue 15,000 shares of 8%, $ 100 par value preferred stock, and 504,000
Concord Corporation was organized on January 1, 2022. It is authorized to issue 15,000 shares of 8%, $100 par value preferred stock, and 504,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year.
(c) Prepare the paid-in capital section of stockholders' equity at December 31, 2022. (Enter the account name only and do not provide the descriptive information provided in the question.) Concord Corporation Balance Sheet (Partial) -- Your Answer Correct Answer (Used) Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.) Preferred Stock Mar, 1 515.000 Nov. 1 100.000 615.000 Dec. 31 Bal Paid-in Capital in Excess of Par-Preferred Stock Mar 1 51500 Nov. 1 13.000 Dec 31 Bal. 54 500 Common Stock Jan. 10 170.000 Apr. 1 44.000 May 1 156.000 Aug. 1 22.000 Sept. 1 24.000 $16.000 Dec. 31 Bal Paid-in Capital in Excess of Stated Value-Common Stock Jan. 10 170,000 Apr1 40.000 May 1 253 500 Aug 1 21000 Sept. 1 60.000 Dec 31 Bal. 544500 Jan. 10 Ch 540000 Common Stock 170000 Paid-in Capital in Excess of Stated Value-Common Stock 170000 Mar. 1 Cash 566500 Preferred Stock 515000 Pald-in Capital in Excess of Par-Preferred Stock 51500 Apr. 1 Land 84000 Common Stock 44000 Paid in Capital in Excess of Stated Value-Common Stock 40000 May 1 Cash 409500 Common Stock 156000 Paldin Capital in Excess of Stated Value Common Stock 253500 Aug 1 Organization Expense 43000 Common Stock 22000 Pald-in Capital in Excess of Stated Value Common Stock 21000 Sept. 1 Cash 84000 Common Stock 24000 Paid-in Capital in Excess of Stated Value-Common Stock 60000 Nov. 1 Cash 113000 Preferred Stock 100000 Paid-in Capital in excess of Par-Preferred Stock Jan. | 10 | Issued 85,000 shares of common stock for cash at $4 per share. | |
Mar. | 1 | Issued 5,150 shares of preferred stock for cash at $110 per share. | |
Apr. | 1 | Issued 22,000 shares of common stock for land. The asking price of the land was $90,000. The fair value of the land was $84,000. | |
May | 1 | Issued 78,000 shares of common stock for cash at $5.25 per share. | |
Aug. | 1 | Issued 11,000 shares of common stock to attorneys in payment of their bill of $43,000 for services performed in helping the company organize. | |
Sept. | 1 | Issued 12,000 shares of common stock for cash at $7 per share. | |
Nov. | 1 | Issued 1,000 shares of preferred stock for cash at $113 per share. |
paid in capitol is $13,000 the page keeps glitching so its not showing in the screenshot
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