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Pronghorn Corp. was organized on January 1, 2017. It is authorized to issue 19,800 shares of 7%, $50 par value preferred stock and 462,000 shares
Pronghorn Corp. was organized on January 1, 2017. It is authorized to issue 19,800 shares of 7%, $50 par value preferred stock and 462,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year.
Jan. | 10 | Issued 71,000 shares of common stock for cash at $5 per share. | |
Mar. | 1 | Issued 1,220 shares of preferred stock for cash at $56 per share. | |
May | 1 | Issued 116,000 shares of common stock for cash at $8 per share. | |
Sept. | 1 | Issued 5,200 shares of common stock for cash at $6 per share. | |
Nov. | 1 | Issued 3,200 shares of preferred stock for cash at $58 per share. |
Prepare the paid-in capital portion of the stockholders equity section at December 31, 2017.
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