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of Phoer HA Tidal Corporation was organized It is authorized to issue 20,000 shares of...

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of Phoer HA Tidal Corporation was organized It is authorized to issue 20,000 shares of 6%, $50 par value preferred stock and 500,000 on January 1, 2017, stated value of $i per share. The following stock transactions were completed during the first year Jan. 10 Issued 7o,000 shares of common stock for cash at $4 per share. Mar. 1 Issued 12,000 shares of preferred stock for cash at $53 per share. May 1 Issued 120,000 shares of common stock for cash at s6 per share. Sept. 1 Issued 5,000 shares of common stock for cash at $5 per share Nov. 1 Issued 3.000 shares of preferred stock for cash at $56 per share Instructions (a) Journalize the transactions (b) Post to the stockholders' equity accounts. (Use T-accounts.) (c) Prepare the paid-in capital portion of the stockholders' equity section at December 31, 2017. (0) Tot. paid-in capital $1.829,00o Journalize transactions, post, and prepare a stockholders equity section; calculate ratios. ). AP

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