Problem 11-2A (Part Level Submission)

The stockholders equity accounts of Marigold Corp. on January 1, 2017, were as follows.

Preferred Stock (8%, $100 par noncumulative, 4,700 shares authorized)		$282,000
Common Stock ($4 stated value, 325,000 shares authorized)		1,083,333
Paid-in Capital in Excess of Par ValuePreferred Stock		14,100
Paid-in Capital in Excess of Stated ValueCommon Stock		520,000
Retained Earnings		701,000
Treasury Stock (4,700 common shares)		37,600

During 2017, the corporation had the following transactions and events pertaining to its stockholders equity.

Feb.	1		Issued 5,150 shares of common stock for $36,050.
Mar.	20		Purchased 1,300 additional shares of common treasury stock at $8 per share.
Oct.	1		Declared a 8% cash dividend on preferred stock, payable November 1.
Nov.	1		Paid the dividend declared on October 1.
Dec.	1		Declared a $0.85 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017.
Dec.	31		Determined that net income for the year was $284,000. Paid the dividend declared on December 1.

Enter the beginning balances in the accounts and post the journal entries to the stockholders' equity accounts. the previous part. For accounts that have zero ending balance, the entry should be the balance date Preferred Stock Common Stock Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value Common Stock Retained Earnings 20 2 3 4 9 W E