Problem 11-2a the stockholders’ equity accounts of bridgeport corp.

Problem 11-2A The stockholders’ equity accounts of Bridgeport Corp. on January 1, 2017, were as follows Preferred stock (7%, $100 par noncumulative, 4,300 shares authorized) $258,000 Common Stock ($4 stated value, 305,000 shares authorized) 1,016,666 Paid-in Capital in Excess of Par Value-Preferred Stock 12,900 paid in Capital in Excess of Stated Value-Common Stock 488,000 Retained Earnings 699,500 Treasury Stock (4,300 common shares) 34,400 During 2017, the corporation had the following transactions and events pertaining to its stockholders’ Feb. 1 Issued 5,470 shares of common stock for $38,290 Mar, 20 Purchased 1,000 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. Declared a $0.75 per share cash dividend to common stockholders of record on December 15, payable December 31, 2017. Dec. 21 Determined that net income for the year was $280,500. Paid the dividend declared on December 1.

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadline.

Click Here to Make an Order Click Here to Hire a Writer