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On January 5, 2020, Concord Corporation received a charter granting the right to issue 5,100 shares of $100 par value, 8% cumulative and nonparticipating preferred stock, and 51,500 shares of $10 par value common stock. It then completed these transactions.

Record the journal entries for the transactions listed above. (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 0 for the amounts. Record entries in the order displayed in the problem statement. Round answers to 0 decimal places, e.g. $5,275.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date Jan. 11	Cash	349,200
	Common Stock		194,000
	Paid in capital in excess par common stock		152,200
Feb. 1	equipment	49,200
	on February 1: buildings	156,000
	on February 1: Land	269,000
	on February 1: Preferred Stock		370,000
	on February 1: Paid in capital in excess par preferred		104,200
choose a transaction date July 29	Treasury Stock	32,000
	Cash		32,000
Aug. 10	on August 10: Cash	28,000
	on August 10: Retained Earnings	4,000
	on August 10:Treasury Stock		32,000
choose a transaction date Dec. 31	Retained Earnings	35,420
	Dividends Payable		35,420
choose a transaction date Dec. 31	Income Summary	168,700
	Retained Earnings		168,700

(b)

Prepare the stockholders equity section of Concord Corporations balance sheet as of December 31, 2020. (Enter account name only and do not provide descriptive information.)

CONCORD CORPORATION Stockholders Equity choose the accounting period December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020
select an opening name for subsection one Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity
enter a balance sheet item					$enter a dollar amount
enter a balance sheet item					enter a dollar amount
select a closing name for subsection one Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity					enter a total amount for subsection one
select an opening name for subsection two Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity
enter a balance sheet item			$enter a dollar amount
enter a balance sheet item			enter a dollar amount
					enter a subtotal of the two previous amounts
select a summarizing line for the first part Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity					enter a total amount for the first part
enter a balance sheet item					enter a dollar amount
select a closing section name Additional Paid-in CapitalCapital StockCurrent AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Capital StockTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Property, Plant and EquipmentTotal Stockholders' Equity					$enter a total amount for this section

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