eBook Show Me How Selected Stock Transactions The following selected accounts appear in the ledger of Upscale Construction Inc. at the beginning of the current year: Preferred 2% Stock, $200 par (40,000 shares authorized, 20,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $10 par (600,000 shares authorized, 220,000 shares issued) $4,000,000 640,000 2,200,000 290,000 Paid-In Capital in Excess of Par-Common Stock Retained Earnings 15,116,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 60,000 shares of common stock at $16, receiving cash. b. Issued 10,000 shares of preferred 2% stock at $213. c. Purchased 36,000 shares of treasury common for $15 per share. d. Sold 18,000 shares of treasury common for $18 per share. e. Sold 12,000 shares of treasury common for $13 per share. f. Declared cash dividends of $4.00 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. If an amount box does not require an entry, leave it blank. a. Issued 60,000 shares of common stock at $16, receiving cash. b. Issued 10,000 shares of preferred 2% stock at $213. eBook Show Me How b. Issued 10,000 shares of preferred 2% stock at $213. c. Purchased 36,000 shares of treasury common for $15 per share. d. Sold 18,000 shares of treasury common for $18 per share. e. Sold 12,000 shares of treasury common for $13 per share. f. Declared cash dividends of $4.00 per share on preferred stock and $0.10 per share on common stock. f. Declared cash dividends of $4.00 per share on preferred stock and $0.10 per share on common stock. g. Paid the cash dividends. 33