Problem 11-1A (Part Level Submission) Grouper Corp. was organized on January 1, 2017. It is...
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Accounting
Problem 11-1A (Part Level Submission)
Grouper Corp. was organized on January 1, 2017. It is authorized to issue 22,000 shares of 6%, $53 par value preferred stock and 456,000 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 68,000 shares of common stock for cash at $6 per share.
Mar.
1
Issued 1,160 shares of preferred stock for cash at $56 per share.
May
1
Issued 113,000 shares of common stock for cash at $7 per share.
Sept.
1
Issued 4,600 shares of common stock for cash at $4 per share.
Nov.
1
Issued 2,600 shares of preferred stock for cash at $57 per share.
December 31, 2017 Stockholders' Equity Total Capital Stock Additional Paid-in Capital Common Stock 185600 Preferred Stock 199280 384880 Total Paid-in Capital Paid-in Capital Paid-in Capital in Excess of Par Value-Common St 1031800 Paid-in Capital in Excess of Par Value-Preferred St 13880 1045680 Total Paid-in Capital 1430560 Paid-in Capital
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