the stockholders equity accounts of windham corporation

QUESTION 5 Not yet answered Marked out of 4.00 P Flag question 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; $170,000 6,800 shares issued and outstanding Common stock, $10 par value, 200,000 shares authorized; 500,000 50,000 shares issued and outstanding Paid-in capital in excess of par value-Preferred stock 68,000 200,000 Paid-in capital in excess of par value-Common stock Retained earnings 270,000 During the year, the following transactions occurred: Jan. 10 Issued 28,000 shares of common stock for $17 cash per share 23 Purchased 8,000 shares of common stock as treasury stock at $19 per share. Mar. 14 Sold one-half of the treasury shares acquired January 23 for s21 per share. July 15 issued 3,200 shares of preferred stock in exchange for equipment with a fair market value of s128,000. Nov. 15 sold 1,000 of the treasury shares acquired January 23 for $24 per share. Dec. 31 Closed the net income of $59,000 to the Retained Earnings account. Required a. Set up T-accounts for the stockholders' equity accounts as of the beginning of the year and enter the HINT: Complete part b, below prior to entering T-account data