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8. Journalize the following stock transactions for Leeward Corp. for the year 2019: 1/5...

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Accounting

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8. Journalize the following stock transactions for Leeward Corp. for the year 2019: 1/5 - Issued 2,000 shares of $2 stated value common stock for $15 per share 3/1 Issued 100 shares of $10 par value preferred stock for inventory with an original cost of $2,500 and a fair market value of $3,200 4/2 Purchased 400 shares of $2 stated value common stock for the treasury for $18 per share 5/15 - Sold 100 shares of treasury stock for $2,000 (total) Date Account Debit Credit 9. The following stockholders' equity accounts arranged alphabetically are in the ledger of Crivello Corporation at December 31, 2019. Common Stock ($3 stated value) $2,400,000 Paid-in Capital from Treasury Stock 10,000 Paid-in Capital in Excess of Par-Preferred Stock 220,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,600,000 Preferred Stock (8%, $50 par, noncumulative) 800,000 Retained Earnings 1,448,000 Treasury Stock-Common (10,000 shares) 75,000 Instructions: Prepare the stockholders' equity section of the balance sheet at 12/31/2019

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