The stockholders’ equity accounts of Ayayai Corp. on January 1, 2017, were as follows. Preferred Stock...

The stockholders’ equity accounts of Ayayai Corp. on January 1, 2017, were as follows.

Preferred Stock ( 7%, $ 100 par noncumulative, 4,200 shares authorized)		$ 252,000
Common Stock ($ 3 stated value, 336,000 shares authorized)		840,000
Paid-in Capital in Excess of Par Value—Preferred Stock		12,600
Paid-in Capital in Excess of Stated Value—Common Stock		537,600
Retained Earnings		691,500
Treasury Stock ( 4,200 common shares)		33,600

During 2017, the corporation had the following transactions and events pertaining to its stockholders’ equity.

Feb.	1	Issued 4,880 shares of common stock for $ 34,160.
Mar.	20	Purchased 1,650 additional shares of common treasury stock at $ 8 per share.
Oct.	1	Declared a 7% cash dividend on preferred stock, payable November 1.
Nov.	1	Paid the dividend declared on October 1.
Dec.	1	Declared a $ 0.55 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017.
Dec.	31	Determined that net income for the year was $ 278,300. Paid the dividend declared on December 1.

Enter the beginning balances in the accounts and post the journal entries to the stockholders’ equity accounts. (Post entries in the order of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.)

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ekkarill92 answered 1 year ago

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Subjects

Preferred Stock
choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit amount	choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit amount
choose the end date of the accounting periodchoose the end date of the accounting period 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit balance	choose the end date of the accounting periodchoose the end date of the accounting period 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit balance
Common Stock
choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit amount	choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit amount
choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit amount	choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit amount
choose the end date of the accounting periodchoose the end date of the accounting period 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit balance	choose the end date of the accounting periodchoose the end date of the accounting period 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit balance
Paid-in Capital in Excess of Par Value—Preferred Stock
choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit amount	choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit amount
choose the end date of the accounting periodchoose the end date of the accounting period 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit balance	choose the end date of the accounting periodchoose the end date of the accounting period 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit balance
Paid-in Capital in Excess of Stated Value—Common Stock
choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit amount	choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit amount
choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit amount	choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit amount
choose the end date of the accounting periodchoose the end date of the accounting period 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit balance	choose the end date of the accounting periodchoose the end date of the accounting period 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit balance
Retained Earnings
choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit amount	choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit amount
choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit amount	choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit amount
choose the end date of the accounting periodchoose the end date of the accounting period 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit balance	choose the end date of the accounting periodchoose the end date of the accounting period 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit balance
Cash Dividends
choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit amount	choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit amount
choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit amount	choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit amount
choose the end date of the accounting periodchoose the end date of the accounting period 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit balance	choose the end date of the accounting periodchoose the end date of the accounting period 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit balance
Treasury Stock
choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit amount	choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit amount
choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit amount	choose a transaction datechoose a transaction date 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit amount
choose the end date of the accounting periodchoose the end date of the accounting period 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a debit balance	choose the end date of the accounting periodchoose the end date of the accounting period 1/1 Bal.2/110/13/2012/112/3112/31 Bal.	enter a credit balance