Question

stock with a stat ed wake of $ 1 per shre The following stock MoreyCorp. was orgaand on laury 1.2017 misauthorizedtois ransactions were completed during the frst year e 2a500 shares o' 6% $ 53 par vale petered stock an 459000 shares of ropar conmo Jan. 10 hsued 69,500 shares of common stock for cash at $4 per share Mar. 1 Issued 1.190 shares of preferred stock for cash at $ 54 per share May 1 1ssued 114,500 shares of common stock for cash at $ 7pershare Sept i Issued 4.900 shares of common stock for cash at $ 9 per share ov1 tsued 2,900 shares of prefermed stock for cash at $ 54 per share Journalve the transactions.Recod journal entries in the ondler presented in the problem Credit account itles ore outomatically Indented when amount is entered Do not indent manualily if no entry is equied select "No Entry for the account tities and enter O for the amounts Date Account Titles and Explanation Credit 9500 208500 4280 63070 MayC 87000

Answer 1

Part B

Preferred stock

		3/1	63070
		11/1	153700
		12/31 bal.	216770

Paid-in capital in excess of par value –preferred stock

		3/1	1190
		11/1	2900
		12/31 bal.	4090

Common stock

		1/10	69500
		5/1	114500
		9/1	4900
		12/31 bal.	188900

Paid-in capital in excess of stated value – common stock

		1/10	208500
		5/1	687000
		9/1	39200
		12/31 bal.	934700

Part C

MONTY CORP.

Partial Balance Sheet

December 31, 2017

Stockholders’ equity
Paid-in capital
Capital stock
Preferred stock	216770
Common stock	188900
Total capital stock		405670
Additional paid-in capital
Paid-in capital in excess of par value—preferred stock	4090
Paid-in capital in excess of stated value—common stock	934700
Total additional paid-in capital		938790
Total paid-in capital		1344460