Question

OWV2... Get Homework... Sociology and cl... Pro-environmen... Climate Change... Individual Behav... BL Calculator Selected stock Transactions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $150 par (80,000 shares authorized, 40,000 shares issued) $6,000,000 Paid-In Capital in Excess of Par-Preferred Stock 1,200,000 Common Stock, $25 par (500,000 shares authorized, 230,000 shares issued) 5,750,000 Paid-In Capital in Excess of Par-Common Stock 750,000 Retained Earnings 29,044,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows a. Issued 50,000 shares of common stock at $29, receiving cash. b. Issued 20,000 shares of preferred 2% stock at $163. c. Purchased 30,000 shares of treasury common for $27 per share. d. Sold 15,000 shares of treasury common for $30 per share. e. Sold 10,000 shares of treasury common for $25 per share. f. Declared cash dividends of $3.00 per share on preferred stock and $0.10 per share on common stock 9. Paid the cash dividends. Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank Required: a. Issued 50,000 shares of common stock at $29, receiving cash b. Issued 20,000 shares of preferred 2% stock at $163. c. Purchased 30,000 shares of treasury common for $27 per share.