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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
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 $23, receiving cash. b. Issued 13,000 shares of preferred 2% stock at $95. 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 $1.50 per share on preferred stock and $0.10 per share on common stock. g. Paid the cash dividends. Required: b. Issued 13.000 shares of preferred 2% stock at $95. 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. g. Paid the cash dividends
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