The stockholders' equity accounts of Bridgeport Corporation on January 1, 2022, were as follows. During...
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The stockholders' equity accounts of Bridgeport Corporation on January 1, 2022, were as follows. During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 26,000 shares of common stock for $120,000. Apr. 14 Sold 5,600 shares of treasury stock-common for $32,600. Sept. 3 issued 4,700 shares of common stock for a patent valued at $35,900. Nov. 10 Purchased 1,000 share of common stock for the treasury at a cost of $6,000. Dec 31 Determined that net income for the year was $400,000. No dividends were declared during the year. Enter the beginning balances in the accounts, and post the journal entries to the stockholders' equity accounts. (Use J5 for the posting reference.) (Post entries in the order of journal entries presented in the previous part.) Paid-in Capital from Treasury Stock Treasury Stock
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