Problem 11 1A (Part Level Submission) Whispering Winds Corp was organized on January 1, 2017 It is authorized to issue 21,800 shares of 7 , $51 par value preferred stock and 466,000 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 73,000 shares of common stock for cash at $6 per share Mar 1 Issued 1,260 shares of preferred stock for cash at $56 per share May 1 Issued 118,000 shares of common stock for cash at $6 per share Sept 1 Issued 5,600 shares of common stock for cash at $7 per share Nov 1 Issued 3,600 shares of preferred stock for cash at $54 per share Preferred Stock choose a transaction date 1 103 15 19 111 112 31 Bal enter a debit amount choose a transaction date 1 103 15 19 111 112 31 Bal enter a credit amount choose a transaction date 1 103 15 19 111 112 31 Bal enter a debit amount choose a transaction date 1 103 15 19 111 112 31 Bal enter a credit amount choose the end date of the accounting period 1 103 15 19 111 112 31 Bal enter a debit balance choose the end date of the accounting period 1 103 15 19 111 112 31 Bal enter a credit balance Paid in Capital in Excess of Par ValuePreferred Stock choose a transaction date 1 103 15 19 111 112 31 Bal enter a debit amount choose a transaction date 1 103 15 19 111 112 31 Bal enter a credit amount choose a transaction date 1 103 15 19 111 112 31 Bal enter a debit amount choose a transaction date 1 103 15 19 111 112 31 Bal enter a credit amount choose the end date of the accounting period 1 103 15 19 111 112 31 Bal enter a debit balance choose the end date of the accounting period 1 103 15 19 111 112 31 Bal enter a credit balance Common Stock choose a transaction date 1 103 15 19 111 112 31 Bal enter a debit amount choose a transaction date 1 103 15 19 111 112 31 Bal enter a credit amount choose a transaction date 1 103 15 19 111 112 31 Bal enter a debit amount choose a transaction date 1 103 15 19 111 112 31 Bal enter a credit amount choose a transaction date 1 103 15 19 111 112 31 Bal enter a debit amount choose a transaction date 1 103 15 19 111 112 31 Bal enter a credit amount choose the end date of the accounting period 3 15 19 111 11 1012 31 Bal enter a debit balance choose the end date of the accounting period 1 103 15 19 111 112 31 Bal enter a credit balance Paid in Capital in Excess of Stated ValueCommon Stock choose a transaction date 1 103 15 19 111 112 31 Bal enter a debit amount choose a transaction date 1 103 15 19 111 112 31 Bal enter a credit amount choose a transaction date 1 103 15 19 111 112 31 Bal enter a debit amount choose a transaction date 1 103 15 19 111 112 31 Bal enter a credit amount choose a transaction date 1 103 15 19 111 112 31 Bal enter a debit amount choose a transaction date 1 103 15 19 111 112 31 Bal enter a credit amount choose the end date of the accounting period 1 103 15 19 111 112 31 Bal enter a debit balance choose the end date of the accounting period 1 103 15 19 111 112 31 Bal enter a credit balance Journalize the transactions (Record journal entries in the order presented in the problem Cre required, select No Entry for the account titles and enter o for the amounts ) Date Account Titles and Explanation Debit Credit Jan 10 Cash 438000 Common Stock 219000 Paid in Capital in Excess of Stated Value Commor 219000 Mar 1 v Cash 70560 Preferred Stock 64260 Paid in Capital in Excess of Par Value Preferred St 6300 May 1 v Cash 708000 Common Stock 354000 Paid in Capital in Excess of Stated Value Commor 354000 Sept 1 Cash 39200 Common Stock 16800 Paid in Capital in Excess of Stated Value Commor 22400 Nov 1 v Cash 194400 Preferred Stock 183600 Paid in Capital in Excess of Par Value Preferred St 10800 Preferred Stock X X 3 1 64260 X 11 1 183600 X 12 31 Bal 247860 Paid in Capital in Excess of Par Value Preferred Stock X 3 1 6300 11 1 10800 bil x 12 31 Bal 171001 Common Stock 1 10 219000 X 5 1 354000 X 9 1 16800 X X 12 31 Bal 589800 Paid in Capital in Excess of Stated Value Common Stock x 11 III 1 10 219000 x 5 1 354000 XP 9 1 22400

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Problem 11-1A (Part Level Submission) Whispering Winds Corp. was organized on January 1, 2017. It is authorized to issue 21,800 shares of 7%, $51 par

Problem 11-1A (Part Level Submission)

Whispering Winds Corp. was organized on January 1, 2017. It is authorized to issue 21,800 shares of 7%, $51 par value preferred stock and 466,000 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.

Issued 73,000 shares of common stock for cash at $6 per share.

Mar.

Issued 1,260 shares of preferred stock for cash at $56 per share.

May

Issued 118,000 shares of common stock for cash at $6 per share.

Sept.

Issued 5,600 shares of common stock for cash at $7 per share.

Nov.

Issued 3,600 shares of preferred stock for cash at $54 per share. image text in transcribed

image text in transcribed

Journalize the transactions. (Record journal entries in the order presented in the problem. Cre required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 10 Cash 438000 Common Stock 219000 Paid-in Capital in Excess of Stated Value-Commor 219000 Mar. 1 v Cash 70560 Preferred Stock 64260 Paid-in Capital in Excess of Par Value-Preferred St 6300 May 1 v Cash 708000 Common Stock 354000 Paid-in Capital in Excess of Stated Value-Commor 354000 Sept. 1 Cash 39200 Common Stock 16800 Paid-in Capital in Excess of Stated Value-Commor 22400 Nov. 1 v Cash 194400 Preferred Stock 183600 Paid-in Capital in Excess of Par Value-Preferred St 10800 Preferred Stock X X 3/1 64260 X 11/1 183600 X 12/31 Bal. 247860 Paid-in Capital in Excess of Par Value-Preferred Stock X 3/1 6300 11/1 10800 bil x 12/31 Bal. 171001 Common Stock 1/10 219000 X 5/1 354000 X 9/1 16800 X X 12/31 Bal. 589800 Paid-in Capital in Excess of Stated Value Common Stock x 11 III 1/10 219000 x 5/1 354000 XP 9/1 22400