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Bridgeport Corporation was organized on January 1, 2022. It is authorized to issue 15,000 shares of 8%, $100 par value preferred stock, and 504,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. Mar. 1 10 Issued 85,000 shares of common stock for cash at $4 per share. Issued 5,150 shares of preferred stock for cash at $110 per share. Issued 22,000 shares of common stock for land. The asking price of the land was $90,000. The fair value of the land was $84,000. Issued 78,000 shares of common stock for cash at $5.25 per share. Issued 11,000 shares of common stock to attorneys in payment of their bill of $43,000 for services performed in helping the company organize. Issued 12,000 shares of common stock for cash at $7 per share. 1 Issued 1,000 shares of preferred stock for cash at $113 per share. Apr. 1 May 1 Aug. Nov. Sept. 1 (a) 1

Bridgeport Corporation was organized on January 1,2022. It is authorized to issue 15,000 shares of 8%,$100 par value preferred stock, and 504,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 85,000 shares of common stock for cash at $4 per share. Mar. 1 issued 5,150 shares of preferred stock for cash at $110 per share. Apr. 1 Issued 22,000 share of common stock for land. The asking price of the land was $90,000. The fair value of the land was $84,000. May 1 Issued 78,000 shares of common stock for cash at $5.25 per share. Aug. 1 Issued 11,000 shares of common stock to attorneys in payment of their bill of $43,000 for services performed in helping the company organize. Sept. 1 Issued 12,000 shares of common stock for cash at $7 per share. Nov. 1 Issued 1,000 shares of preferred stock for cash at $113 per share. Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.) Paid-in Capital in Excess of Par-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock 170000 Cash Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Apr. 1 566500 84000 Common Stock Paid-in Capital in Excess of Stated Value Common Stock Cash Common Stock Paid in Capital in Excess of Stated Value - Common Stock Aug 1 Organization Expense Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Bridgeport Corporation was organized on January 1,2022. It is authorized to issue 15,000 shares of 8%,$100 par value preferred stock, and 504,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 85,000 shares of common stock for cash at $4 per share. Mar. 1 issued 5,150 shares of preferred stock for cash at $110 per share. Apr. 1 Issued 22,000 share of common stock for land. The asking price of the land was $90,000. The fair value of the land was $84,000. May 1 Issued 78,000 shares of common stock for cash at $5.25 per share. Aug. 1 Issued 11,000 shares of common stock to attorneys in payment of their bill of $43,000 for services performed in helping the company organize. Sept. 1 Issued 12,000 shares of common stock for cash at $7 per share. Nov. 1 Issued 1,000 shares of preferred stock for cash at $113 per share. Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.) Paid-in Capital in Excess of Par-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock 170000 Cash Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Apr. 1 566500 84000 Common Stock Paid-in Capital in Excess of Stated Value Common Stock Cash Common Stock Paid in Capital in Excess of Stated Value - Common Stock Aug 1 Organization Expense Common Stock Paid-in Capital in Excess of Stated Value-Common Stock

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