Question: Stockholders' Equity: Transactions and <a href=Balance Sheet Presentation The stockholders’ equity accoun…” />

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Question: Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity accoun...

Question: Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity accoun...

Question: Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity accoun...

Question: Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity accoun...

Show transcribed image text Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity accounts of Windham Corporation at January 1 appear below: 8 Percent preferred stock, $27 par value, 50,000 shares authorized; 6,800 shares issued and outstanding $183,600 Common stock, $10 par value, 200,000 shares authorized; 50,000 shares issued and outstanding 500,000 Paid-in capital in excess of par value-Preferred stock 68,000 Paid-in capital in excess of par value-Common stock 200,000 270,000 Retained earnings During the year, the following transactions occurred: Jan. 10 Issued 28,000 shares of common stock for $19 cash per share. 23 Purchased 8,000 shares of common stock as treasury stock at $21 per share Mar. 14 Sold one-half of the treasury shares acquired January 23 for $23 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 $26 per share. Dec. 31 Closed the net income of $61,000 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 January 1 balances HINT: Complete part b. below prior to entering Taccount data.

Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity accounts of Windham Corporation at January 1 appear below: 8 Percent preferred stock, $27 par value, 50,000 shares authorized; 6,800 shares issued and outstanding $183,600 Common stock, $10 par value, 200,000 shares authorized; 50,000 shares issued and outstanding 500,000 Paid-in capital in excess of par value-Preferred stock 68,000 Paid-in capital in excess of par value-Common stock 200,000 270,000 Retained earnings During the year, the following transactions occurred: Jan. 10 Issued 28,000 shares of common stock for $19 cash per share. 23 Purchased 8,000 shares of common stock as treasury stock at $21 per share Mar. 14 Sold one-half of the treasury shares acquired January 23 for $23 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 $26 per share. Dec. 31 Closed the net income of $61,000 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 January 1 balances HINT: Complete part b. below prior to entering Taccount data.

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