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corporation is authorized to issue 20,000 shares of $100 par value, 10%, noncumulative preferred stock and 300,000 shares of $1 par value common stock. At
corporation is authorized to issue 20,000 shares of $100 par value, 10%, noncumulative preferred stock and 300,000 shares of $1 par value common stock. At January 1, 2020, the stockholders' equity accounts contained the following balances: Preferred Stock $ 200,000 Paid-in Capital in excess of Par Value ---Preferred Stock 300,000 Common Stock 120,000 Paid-in Capital in Excess of Par Value--Common Stock 600,000 Treasury Stock--Common (3,000 shares) 18,000 During 2020, the following transactions occurred: March 1 Issued 50,000 shares of common stock for $8 per share. June 30 Purchased 2,000 shares of common stock for the treasury at $11 per share. Oct 1 Issued 2000 shares of preferred stock for $150 per share. Compute the ending balance in each the following accounts at December 31, 2020 and show your computation for each one (DON'T FORGET TO INCLUDE THE BEGINNING BALANCE IN YOUR COMPUTATION) Preferred Stock Paid in Capital - Preferred Common Stock Paid in Capital - Common Treasury Stock
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