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Swifty Corporation had the following stockholders' equity accounts on January 1, 2020: Common Stock ($5 par) $500,000, Paid-in Capital in Excess of Par-Common Stock $225,000,
Swifty Corporation had the following stockholders' equity accounts on January 1, 2020: Common Stock ($5 par) $500,000, Paid-in Capital in Excess of Par-Common Stock $225,000, and Retained Earnings $100,000. In 2020, the company had the following treasury stock transactions. Mar. 1 Purchased 6,500 shares at $8 per share. June 1 Sold 1,500 shares at $12 per share. Sept.1 Sold 2,000 shares at $10 per share. Dec. 1 Sold 1,000 shares at $7 per share. Swifty Corporation uses the cost method of accounting for treasury stock. In 2020, the company reported net income of $28,000. Open accounts for Paid-in Capital from Treasury Stock, Treasury Stock, and Retained Earnings. (Post entries in the order of journal entries presented in the previous part.) Paid-in Capital from Treasury Stock 000 Dune 1 ept. 1 000 Treasury Stock Retained Earnings Your answer is incorrect. Try again. Prepare the stockholders' equity section for Swifty Corporation at December 31, 2020. (Enter the account name only and do not provide the descriptive information provided in the question.) SWIFTY CORPORATION Balance Sheet (Partial)
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