Problem 13-03A a-c (Video)

The stockholders equity accounts of Swifty Corporation on January 1, 2020, were as follows. Preferred Stock (8%, $52 par, 10,500 shares authorized) $ 416,000 Common Stock ($1 stated value, 1,950,000 shares authorized) 1,400,000 Paid-in Capital in Excess of ParPreferred Stock 105,000 Paid-in Capital in Excess of Stated ValueCommon Stock 1,500,000 Retained Earnings 1,800,000 Treasury Stock (11,000 common shares) 55,000 During 2020, the corporation had the following transactions and events pertaining to its stockholders equity. Feb. 1 Issued 25,000 shares of common stock for $115,000. Apr. 14 Sold 5,900 shares of treasury stockcommon for $32,300. Sept. 3 Issued 5,000 shares of common stock for a patent valued at $35,900. Nov. 10 Purchased 1,000 shares of common stock for the treasury at a cost of $6,200. Dec. 31 Determined that net income for the year was $415,000. No dividends were declared during the year.

Prepare a stockholders equity section at December 31, 2020. (Enter the account name only and do not provide the descriptive information provided in the question.)

*Need a partial balance sheet*

List of Accounts Problem 13-03A a-c (Video) Accounts Receivable Cash Common Stock Equipment Income Summary Inventory Land Organization Expense Paid-in Capital from Treasury Stock Paid-in Capital in Excess of Par-Common Stock Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Patents Preferred Stock Retained Earnings Share Capital-Ordinary Share Capital-Preference Share Premium-Ordinary Share Premium-Preference Treasury Stock