Post the stockholders’ equity accounts. ( post entries in the order of the journal entries presented) Preferred StockCommon StockPaid-in Capital in Excess of Par-Preferred StockPaid-in Capital in Excess of Stated Value-Common Stock> DateAccount Titles and ExplanationDebitCreditJan. 10 vCash468,000Common Stock234,000Paid-in Capital in Excess of Stated Value-Common Stock234,000Мar. 1Cash498,750Preferred Stock475,000Paid-in Capital in Excess of Par-Preferred Stock23,750Apr. 1Land87,000Common Stock72,000Paid-in Capital in Excess of Stated Value-Common Stock15,000May 1Cash325,125Common Stock229,500Paid-in Capital in Excess of Stated Value-Common Stock95,625Aug. 1Organization Expense42,000Common Stock33,000Paid-in Capital in Excess of Stated Value-Common Stock9,000Sept. 1Cash57,500Common Stock34,500Paid-in Capital in Excess of Stated Value-Common Stock23,000Nov. 1Cash162,000Preferred Stock150,000Paid-in Capital in Excess of Par-Preferred Stock12,000

Jan. 10 Cash 468,000 Common Stock 234,000 Paid-in Capital in Excess of Stated Value-Common Stock 234,000 Mar. 1 Cash 498,750 Preferred Stock 475,000 Paid-in Capital in Excess of Par-Preferred Stock 23,750 apr. 1 Land 87,000

Jan. 10 Cash 468,000 Common Stock 234,000 Paid-in Capital in Excess of Stated Value-Common Stock 234,000 Mar. 1 Cash 498,750 Preferred Stock 475,000 Paid-in Capital in Excess of Par-Preferred Stock 23,750 apr. 1 Land 87,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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