elected Stock Transactions

he following selected accounts appear in the ledger of Upscale Construction Inc, at the beginning of the current year:

Preferred $2\%$ Stock, $$150$ par shares authorized, $45,000$ shares issued$)$

Paid$-$In Capital in Excess of Par$-$Preferred Stock

Common Stock, $$10$ par thares authorized, $320,000$ shares issued$)$

Paid$-$In Cepital in Excess of Par$-$Common Stock

Retained Eamings

$$6,750,000$

$810,000$

$3,200,000$

$420,000$

$23,702,000$

During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows:

a$.$ Issued $70,000$ shares of common stock at $$13,$ receiving cash.

b$.$ Issued $23,000$ shares of preferred $2\%$ stock at $$169.$

c$.$ Purchased $42,000$ shares of treasury common for $$14$ per share.

d$.$ Sold $21,000$ shares of treasury common for $$17$ per share.

c$.$ Sold $14,000$ shares of treasury common for $$12$ per share.

$7.$ Declared cash dividends of $$3,00$ per share on preferred stock and $$0,06$ per share on common stock.

Q$.$ Paid the cash dividends.

Required:

Dournalise the entries to record the transactions, If an amount box does not require an entry, leave it blank.

a$.$ Issued $70,000$ shares of common stock at $$13,$ receiving cash.

Comimstack $-$

Paid$-$In Capital in Excess of Pancommon Stock

b$.$ Iswued $23,000$ shares of preferred $2\%$ stock at $$169.$

Perternd Stock

a$.$ Issued $70,000$ shares of common stock at $$13,$ receiving cash.

b$.$ Issued $23,000$ shares of preferred $2\%$ stock at $$169.$

Preferred Stock

Paid$-$In Capital in Excess of Parepreferred Stock

C$.$ Purchased $42,000$ shares of treasury common for $$14$ per share

Treasury Stock $=$

Cash

d$.$ Sold $21,000$ shares of treasury common for $$17$ per share.

Paid$-$In Capital In Excess of Par Value$-$Common Stock. i$.$

Gain from Sale of Treasury Stock :

e$.$ Sold $14,000$ shares of treasury common for $$12$ per share.

c$.$

Paid$-$In Capital from Sale of Treasury Stock $-$

Treasury Stock $-$

d$.$ Sold $21,000$ shares of treasury common for $$17$ per share.

Gain from Sale of Treasuri Stack.....

e$.$ Sold $14,000$ shares of treasury common for $$12$ per shere.

Reid$-$In Capital from Sale of Treasurv Stode

Treasurv Stock

f$.$ Dedared cash dividends of $$3\mathrm{.}00$ per share on preferred tock and s$0\mathrm{.}06$ per shere on commor stock.

Cash Dividends in in

$9.$ Paid the coh dividents

Cash Dividends Payable

Cath :