6.) A company has 50,000 shares of cumulative preferred 1% stock, $40 par, and 200,000 shares of $10 par common stock. The following amounts were distributed as dividends: Year 1 $8,000 Year 2 $50,000 Year 3 $60,000 Determine the total dividends for preferred and common stock for each year.

7.) A company has 20,000 shares of $50 par, 2% cumulative preferred stock and 80,000 shares of $5 par common stock. The following amounts were distributed as dividends: Year 1 $15,000 Year 2 $30,000 Year 3 $75,000 Determine the dividends per share for the preferred and common stock for the first year.

8.) A company issued for cash 30,000 shares of $9 par common stock at $20. Journalize the entry to record the transaction.