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Posted: February 26th, 2022
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 70,000 shares of common stock at $16, receiving cash. Print 1. PR.12-03.ALGO (Algorithmic) Selected Stock Transactions
The following selected accounts appear in the ledger of Parkus Construction Inc. at the beginning of the current year: Preferred 2% Stuck, $100 par (30,000 shares authorized, 15,000 shares issued) Paid-In Capital in excess of Par-Preferred Stock Common Stock, $10 par (700,000 shares authorized, 200,000 Shares issued) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,500,000 240,000 2,000,000 260,000 9,400,000 b. Issued 8,000 shares of preferred 2% stock at $113. During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 70.000 shares of common stock at $16, receiving cash. b. Issued 8,000 shares of preferred 2% stock at $113. 6. Purchased 42,000 shares of treasury common for $13 per share. d. Sold 21,000 shares of treasury common for $16 per share. e. Sold 14,000 shares of treasury common for $11 per share. 1. Dedared cash dividends of $2.00 per share on preferred stock and $0.04 per share on common stock. 9. Paid the cash dividends. c. Purchased 42,000 shares of treasury common for $13 per share. Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. d. Sold 21,000 shares of treasury common for $16 per share. e. Sold 14,000 shares of treasury common for $11 per share. Get Accounting homework help today
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