E13-25

Oct. 14 Sold 600 shares of treasury stock-common at $6 per share Journalize the transactions. 13-25 Computing dividends on preferred and common stock and journalizing Horizon Communications has the following stockholders equity on December 31, 2016: Stockholders' Equity Paid-In Capital Preferred Stock-4%, $11 Par Value; 150,000 shares authorized, 22,000 shares issued and outstanding 242,000 Common Stock-$4 Par Value; 575,000 shares authorized, 350,000 shares issued and outstanding 1,400,000 1,050,000 Paid-In Capital in Excess of Par-Common Total Paid-ln Capital 2,692,000 Retained Earnings 220,000 Total Stockholders' Equity 2,912,000