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CHART OF ACCOUNTS Parks Construction Inc. General Ledger ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Inventory 145 Office Supplies
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he following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Juring the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 519,600 shares of common stock at $8, receiving cash. b. Issued 10,800 shares of preferred 1% stock at $61. c. Purchased 46,400 shares of treasury common for $8 per share. d. Sold 20,800 shares of treasury common for $10 per share. e. Sold 5,600 shares of treasury common for $7 per share. f. Declared cash dividends of $0.50 per share on preferred stock and $0.10 per share on common stock. g. Paid the cash dividends. Required: Journalize the entries to record the transactions. Journalize the entries to record the transactions on December 31
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