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On January 1, 2018, Windsor Corporation was authorized to issue 400,000 shares of common stock, par value $12 per share, and 80,000 shares of 5
On January 1, 2018, Windsor Corporation was authorized to issue 400,000 shares of common stock, par value $12 per share, and 80,000 shares of 5 percent cumulative preferred stock, par value $25 per share. The preferred dividends are 2 years in arrears. Prepare Journal Entries to record the following 2018 transactions: 1. Windsor Corporation was granted a charter authorizing the issuance of 400,000 shares of common stock. 2. Issued 80,000 shares of common stock at $19 per share. 3. Issued 30,000 shares of preferred stock at $37 per share. 4. Reacquired 12,000 shares of common stock at $13 per share. 5. Reissued 2,400 of the treasury shares for $26,400. 6. Reissued 1,800 of the treasury shares for $28,800. 7. Reissued 1,600 of the treasury shares for $8 per share. 8. The Board of Directors of Windsor Corporation declared a dividend of $134,640 on December 1, 2018 and after all of the transactions above had occurred and were recorded. 9. How much did each common shareholder receive per share? 10. What is the balance ($) in the treasury stock account for Windsor Corporation at December 31, 2018
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