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Stockholders Equity: Transactions and Balance Sheet Presentation The stockholders equity of Summit Corporation at January 1Required a. Set up T-accounts for the stockholders equity accounts as of the beginning of the year and enter the January 1 b

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Paid-in-Capital in Excess of Par Value-Preferred Stock Paid-in-Capital in Excess of Par Value-Common Stock
Beg. 0 24000 Beg. 0 360000
Jun. 01 0 15000 Mar. 31 0 17375
Bal. 0 39000 Nov. 21 0 35000
Bal. 0 412375
Treasury Stock-Common
Sept. 01 110000 0
Oct. 12 0 16500
Dec. 28 0 13200
Bal. 80300 0
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