Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity accounts of Windham Corporation at January 1 appear below: 8 Percent preferred stock, $25 par value, 50,000 shares authorized; 6,800 shares issued and outstanding Common stock, $10 par value, 200,000 shares authorized; 50,000 shares issued and outstanding Paid-in capital in excess of par value-Preferred stock Paid-in capital in excess of par value-Common stock Retained earnings $170,000 500,000 68,000 200,000 270,000 During the year, the following transactions occurred: Jan. 10 Issued 28,000 shares of common stock for $18 cash per share. 23 Purchased 8,000 shares of common stock as treasury stock at $20 per share. Mar. 14 Sold one-half of the treasury shares acquired January 23 for $22 per share. July 15 Issued 3,200 shares of preferred stock in exchange for equipment with a fair market value of $128,000. Nov. 15 Sold 1,000 of the treasury shares acquired January 23 for $25 per share. Dec. 31 Closed the net income of $60,000 to the Retained Earnings account. Required Prepare journal entries to record the foregoing transactions and post to T-accounts. Do not prepare the journal entry for the Dec. 31 transaction, but post the appropriate amount to the Retained E account. Determine the ending balances for the stockholders' equity accounts. Prepare the December 31 stockholders' equity section of the balance sheet.

Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders equiry accounts of Windtam Corporation at january 1 appear below Required - Prepare journil entries to record the foregoing transactuos and post to Truccounts Do not piepare the journy entry for the Dec 31 transaction but post the approperate amount to the Retained account Determine the eoding balances for the stochholders equify accounts - Prepure the Decenter 31 stockholders' equity section of the balunce theet