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Cullumber Company had these transactions during the current period. June 12 Issued 80,500 shares of $1 par value common stock for cash of $301,875.

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Cullumber Company had these transactions during the current period. June 12 Issued 80,500 shares of $1 par value common stock for cash of $301,875. July 11 Issued 3,200 shares of $100 par value preferred stock for cash at $106 per share. Nov. 28 Purchased 2,950 shares of treasury stock for $10,000. Prepare a tabular summary to record the Cullumber Company transactions. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) June 22 $ July 11 Nov. 28 Assets Liabilities Cash + Common Stock $ PIC in Excess of Paid-in-Capital Stockholders' Equity + Pref. Stock + PIC in Excess of Par Pref. Treasury Stock + $ $ $ Revenue $ $ Expense Retained Earnings Dividend $

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