The stockholders equity accounts of Whispering Winds Corp on January 1, 2022, were as follows Preferred Stock (7 , $100 par noncumulative, 6,000 shares authorized) $360,000 Common Stock ($4 stated value, 360,000 shares authorized) 1,200,000 Paid in Capital in Excess of Par ValuePreferred Stock 18,0...

ISE II Dividend Whispering Winds Corp Journal Entries Date Account 1Feb Cash 20Ma ...

The stockholders equity accounts of Whispering Winds Corp. on January 1, 2022, were as follows. Preferred Stock

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The stockholders’ equity accounts of Whispering Winds Corp. on January 1, 2022, were as follows.

Preferred Stock (7%, $100 par noncumulative, 6,000 shares authorized)		$360,000
Common Stock ($4 stated value, 360,000 shares authorized)		1,200,000
Paid-in Capital in Excess of Par Value—Preferred Stock		18,000
Paid-in Capital in Excess of Stated Value—Common Stock		576,000
Retained Earnings		825,600
Treasury Stock (6,000 common shares)		48,000

During 2022, the corporation had the following transactions and events pertaining to its stockholders’ equity.

Feb.	1	Issued 6,000 shares of common stock for $36,000.
Mar.	20	Purchased 1,200 additional shares of common treasury stock at $7 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.	1	Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022.
Dec.	31	Determined that net income for the year was $336,000. Paid the dividend declared on December 1.