(1.) Issued 300 shares of $90 par value preferred stock in exchange for land that had an...

Question:

(1.) Issued 300 shares of $90 par value preferred stock in exchange for land that had an appraised value of $32,000.

(2.) Issued 17,500 shares of $20 par value common stock for $24 per share.

(3.) Purchased 3,800 shares of common stock for the treasury at $20 per share.

(4.) Sold 2,500 shares of treasury stock purchased in transaction #3 for $22 per share.

(5.) Declared a cash dividend of $2.80 per share on the common stock outstanding, to be paid early next year.

(6.) Declared and issued a 5 percent stock dividend on the common stock when the market price per share of common stock was $20.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...