Question
Marigold Corp. was organized on January 1, 2017. It is authorized to issue 22,500 shares of 7%, $51 par value preferred stock and 457,000 shares
Marigold Corp. was organized on January 1, 2017. It is authorized to issue 22,500 shares of 7%, $51 par value preferred stock and 457,000 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 68,500 shares of common stock for cash at $5 per share. | |
| Mar. | 1 | Issued 1,170 shares of preferred stock for cash at $54 per share. | |
| May | 1 | Issued 113,500 shares of common stock for cash at $7 per share. | |
| Sept. | 1 | Issued 4,700 shares of common stock for cash at $8 per share. | |
| Nov. | 1 | Issued 2,700 shares of preferred stock for cash at $55 per share. |
B)Prepare the paid-in capital portion of the stockholders equity section at December 31, 2017. 
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
13th edition
978-1-119-4110, 1119411483, 9781119411017, 978-1119411482
