accounting 494957

Problem 13-3A????The stockholders’ equity accounts of Ashley Corporation on January 1, 2012, were as follows. Preferred Stock (8%, $49 par, cumulative, 10,200 shares authorized)??$  387,100??Common Stock ($1 stated value, 1,937,100 shares authorized)??1,408,700??Paid-in Capital in Excess of Par—Preferred Stock??123,200??Paid-in Capital in Excess of Stated Value—Common Stock??1,496,800??Retained Earnings??1,814,400??Treasury Stock (10,300 common shares)??51,500???During 2012, the corporation had the following transactions and events pertaining to its stockholders’ equity. Feb. 1??Issued 24,100 shares of common stock for $123,900.??Apr. 14??Sold 6,000 shares of treasury stock—common for $33,800.??Sept. 3??Issued 5,100 shares of common stock for a patent valued at $35,700.??Nov. 10??Purchased 1,100 shares of common stock for the treasury at a cost of $5,700.??Dec. 31??Determined that net income for the year was $456,600.???No dividends were declared during the year. ????????? ?? ?? HYPERLINK “javascript:void(0)” ? ? (a)????Journalize the transactions and the closing entry for net income. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date?Account Titles and Explanation?Debit?Credit??Feb. 1???????????????Apr. 14???????????????Sept. 3???????????????Nov. 10??????????Dec. 31??????????Click if you would like to Show Work for this question:?? HYPERLINK “javascript:void();” ?Open Show Work??? ??? ? HYPERLINK “javascript:xlinkobject(‘weygandt9780470534793c13-sec-0003′,’res_EAT_1288009649515_0_43312014009984234’);” ?LINK TO TEXT? ? HYPERLINK “javascript:xlinkobject(‘weygandt9780470534793c13-sec-0044′,’res_EAT_1288009649515_0_43312014009984234’);” ?LINK TO TEXT? ? HYPERLINK “javascript:xlinkobject(‘weygandt9780470534793c13-sec-0040′,’res_EAT_1288009649515_0_43312014009984234’);” ?LINK TO TEXT? ? HYPERLINK “javascript:xlinkobject(‘weygandt9780470534793c13-sec-0027′,’res_EAT_1288009649515_0_43312014009984234’);” ?LINK TO…