Swifty Corporation was organized on January 1, 2017. It is authorized to issue 19,700 shares of 7%, $52 par value preferred stock and 471,000 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 65,100 shares of common stock for cash at $4 per share.
Mar.	1		Issued 1,155 shares of preferred stock for cash at $56 per share.
May	1		Issued 120,500 shares of common stock for cash at $6 per share.
Sept.	1		Issued 6,100 shares of common stock for cash at $7 per share.
Nov.	1		Issued 4,100 shares of preferred stock for cash at $54 per share.

Problem 8-3 Swifty Corporation was organized on January 1, 2017. It is authorized to issue 19,700 shares of 7%, $52 par value preferred stock and 471,000 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 Mar. 1 May 1 Sept. 1 Nov. 1 Issued 65,100 shares of common stock for cash at $4 per share. Issued 1,155 shares of preferred stock for cash at $56 per share. Issued 120,500 shares of common stock for cash at $6 per share. Issued 6,100 shares of common stock for cash at $7 per share. Issued 4,100 shares of preferred stock for cash at $54 per share. Prepare a tabular summary to record the transactions. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets = Liabilities + Stockholders' Equity Paid-in-Capital PIC in Excess of Stated PIC in Excess of Par Value Com. Pref. Stock + Value Pref. Retained Earnings Cash = + Common Stock + Revenue Expense - Dividend Jan. 10 Mar. 1 May 1 Sept. 1 Nov. 1 Total