Exercise 8-13

Blossom Company had these transactions during the current period.

June 12 Issued 83,500 shares of $1 par value common stock for cash of $313,125.

July 11 Issued 2,800 shares of $101 par value preferred stock for cash at $106 per share.

Nov. 28 Purchased 3,350 shares of treasury stock for $8,450.

Prepare a tabular summary to record the Blossom Company transactions. (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.) Assets = Liabilities + Stockholders' Equity Paid-in-Capital Pref. Stock + PIC in Excess of Par Pref. Treasury Stock + Retained Earnings Expense - Cash = + Common Stock + PIC in Excess of Par Com. Revenue Dividend June 225 July 11 Nov. 28