3. Keaubie Co.,Inc. purchased a building that was advertised for sale at $85,000. Their stock is currently selling for $18 per share. Keaubie issued 5500 shares of their $2 par value common stock to purchase the building. ***Remember: We use the price that is more clearly evident (the advertised price or the current market price of the stock).

Date	Accounts	Ref.	Debit	Credit

4. Keaubie Co., Inc. issued 10,000 shares of its $12 par value preferred stock for $15 per share. Journalize.

Date	Accounts	Ref.	Debit	Credit
	Bank account		$150,000
	stock			$120,000
	Securities premium			$30,000

5. On Apr. 1 Madison, Inc. declared $150,000 for cash dividends. Journalize the Apr. 1 declaration and the Apr. 30 payment.

Date	Accounts	Ref.	Debit	Credit
Apr 1	earnings		$150,000
	Dividend payable			$150,000
Apr 30	payable		$150,000
	cash			$150,000

6. Madison, Inc. issued 10,000 shares of its $1.50 par value preferred stock at par.

Date	Accounts	Ref.	Debit	Credit

7. Baylee, Inc. issue 100,000 shares of its $4.00 par value common stock at par.

Date	Accounts	Ref.	Debit	Credit

8. On April 1, Lucy company reacquired 8000 shares of its own stock at a price of $10 per share. On May 4, Lucy sold 1800 shares for $13 per share. On May 30 Lucy sold 500 shares at 8 per share. Journalize the purchase of the treasury stock on April 1 and the sale of the treasury stock on May 4 and May 30

Date	Accounts	Ref.	Debit	Credit

Date	Accounts	Ref.	Debit	Credit

9. On February 1, Lucy Company purchased 10,000 shares of its own stock for $6 per share. On March 15, Lucy sold 1000 shares of its treasury stock for $4 per share. Journalize the purchase of the treasury stock and the sale of the treasury stock.

Date	Accounts	Ref.	Debit	Credit