Monty Corp. was organized on January 1, 2017. It is authorized to issue 23,500 shares...
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Accounting
Monty Corp. was organized on January 1, 2017. It is authorized to issue 23,500 shares of 6%, $53 par value preferred stock and 459,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year.
Jan.
10
Issued 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
Issued 114,500 shares of common stock for cash at $7 per share.
Sept.
1
Issued 4,900 shares of common stock for cash at $9 per share.
Nov.
1
Issued 2,900 shares of preferred stock for cash at $54 per share.
Post to the stockholders equity accounts
Prepare the paid-in capital portion of the stockholders equity section at December 31, 2017.
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