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Problem 11-1A (Part Level Submission) Culver Corporation was organized on January 1, 2017. It is authorized to issue 22,800 shares of 6%, $50 par value preferred stock and 468,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Jan. 10 Mar. 1 May 1 Sept. 1 Nov. 1 Issued 74,000 shares of common stock for cash at $6 per share. Issued 1,280 shares of preferred stock for cash at $54 per share. Issued 119,000 shares of common stock for cash at $5 per share. Issued 5,800 shares of common stock for cash at $4 per share. Issued 3,800 shares of preferred stock for cash at $60 per share. (a) Your answer is correct. Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 10 Cash 444000 | Common Stock 222000 | Paid-in Capital in Excess of Stated Value-Commor 222000 Mar. 1 Cash Preferred Stock 64000 Paid-in Capital in Excess of Par Value-Preferred St 5120 May 1 Cash 595000 Common Stock 357000 Paid-in Capital in Excess of Stated Value-Commo 238000 Sept. 1 ||Cash Common Stock 17400 Paid-in Capital in Excess of Stated Value-Commor ULL 5800 Nov. 1 Tcash 228000 | Preferred Stock 190000 Paid-in Capital in Excess of Par Value-Preferred Si 38000 Click if you would like to Show Work for this question: Open Show Work Your answer is partially correct. Try again. Prepare the paid-in capital portion of the stockholders' equity section at December 31, 2017. CULVER CORPORATION Partial Balance Sheet December 31, 2017 Stockholders' Equity Paid-in Capital Capital Stock Common Stock 1404000 T Preferred Stock 1140000 Capital Stock 2544000 Additional Paid-in Capital Paid-in Capital in Excess of Par Value-Common Stock Tpaid-in Capital in excess of Par Value-Preferred Stoch Paid-in Capital Total Liabilities and Stockholders' Equity

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