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Calculator Preferred 24 Stock, $200 par (70,000 shares authorized, 35,000 shares issued) $7,000,000 Pald-In Capital in Excess
Calculator c. Purchased 30,000 shares of treasury common for $24 per share. d. Sold 15,000 shares of treasury common for $27
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a 1350000 Journal Entries Cash (50000*27) Common Stock (50000*20) Paid In Capital In Excess of Par - Common Stock 1000000 350

310000 50000 Workings: Common Stock Add: Issue Less: Treasury Stock (net) - (30000-15000-10000) Common Stock Outstanding Divi

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