Calculator Preferred 24 Stock, $200 par (70,000 shares authorized, 35,000 shares issued) $7,000,000 Pald-In Capital in Excess of Par-Preferred Stock 340,000 Common Stock, $20 par (500,000 shares authorized, 310,000 shares issued) 6,200,000 Pald-in Capital in Excess of Par-Common Stock 810,000 Retained Earnings 31,482,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 50,000 shares of common stock at $27, receiving cash. b. Issued 18,000 shares of preferred 2% stock at $212. c. Purchased 30,000 shares of treasury common for $24 per share. d. Sold 15,000 shares of treasury common for $27 per share. e. Sold 10,000 shares of treasury common for $22 per share. f. Declared cash dividends of $4.00 per share on preferred stock and $0.08 per share on common stock 9. Paid the cash dividends. Required: Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank a. Issued 50,000 shares of common stock at $27, receiving cash b. Issued 16,000 shares of preferred 2 stock at $212. AI 8 9 o H Calculator c. Purchased 30,000 shares of treasury common for $24 per share. d. Sold 15,000 shares of treasury common for $27 per share. e. Sold 10,000 shares of treasury common for $22 per share, 1. Declared cash dividends of $4.00 per share on preferred stock and $0.08 per share on common stock. 9. Paid the cash dividends. 0 & 5 6 7 8