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Wildhorse Corporation was organized on January 1,2027. It is authorized to issue 19,700 shares of...

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Accounting

Wildhorse Corporation was organized on January 1,2027. It is authorized to issue 19,700 shares of 7%,$52 par value preferred stock
and 471,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed
during the first year.
Jan. 10 Issued 65,100 shares of common stock for cash at $4 per share.
Mar. 1 Issued 12,050 shares of preferred stock for cash at $56 per share.
May 1 Issued 120,500 shares of common stock for cash at $6 per share.
Sept. 1 Issued 6,100 shares of common stock for cash at $7 per share.
Nov. 1 Issued 4,100 shares of preferred stock for cash at $54 per share.
(a)
Prepare a tabular summary to record the transactions. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity,
place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
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