The stockholders%u2019 equity accounts of Ashley Corporation on January 1, 2012, were as follows.

Preferred Stock (8%, $49 par, cumulative, 10,300 shares authorized) $ 377,300
Common Stock ($1 stated value, 2,083,500 shares authorized) 1,345,400
Paid-in Capital in Excess of Par%u2014Preferred Stock 102,600
Paid-in Capital in Excess of Stated Value%u2014Common Stock 1,435,300
Retained Earnings 1,780,500
Treasury Stock (10,800 common shares) 43,200


During 2012, the corporation had the following transactions and events pertaining to its stockholders%u2019 equity.

Feb. 1 Issued 24,600 shares of common stock for $121,900.
Apr. 14 Sold 5,700 shares of treasury stock%u2014common for $32,700.
Sept. 3 Issued 4,700 shares of common stock for a patent valued at $34,400.
Nov. 10 Purchased 1,100 shares of common stock for the treasury at a cost of $5,900.
Dec. 31 Determined that net income for the year was $401,300.
    • 8 years ago
    Solutions
    NOT RATED

    Purchase the answer to view it

    blurred-text
    • attachment
      solution.xlsx_.xls