g. cash dividends payable

cash

The following selected accounts appear in year: Preferred 296 . Stock, $75 par (30,000 shares authorized, 15,000 shares issued) $1,125,000 Paid-In Capital in Excess of Par-Preferred Stock 225,000 Common Stock, $10 par ( $00,000 shares authorized, 270,000 shares issued) 2,700,000 Paid-In Capital in Excess of Par-Common Stock 350,000 Retained Earnings 9,328,000 During the year, the corporation compieted a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 50,000 shares of common stock at $13, recelving cash. b. Issued 8,000 shares of preferred 2% stock at $92. c. Purchased 30,000 shares of treasury common for $14 per share. d. Sold 15,000 shares of treasury common for $17 per share. e. Sold 10,000 shares of treasury common for $12 per share. f. Declared cash dividends of $1.50 per share on preferred stock and $0.08 per share on common stock. 9. Paid the cash dividends. Required: Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. a. Issued 50,000 shares of common stock at $13, receiving cash. Feedback T Check My Work. a. What is the company receiving for issuing the shares? At what value do the common and preferred stock accounts have to be recorded? b. Issued 8,000 shares of preferred 2% stock at $92. Check My Work. d. Sold 15,000 shares of treasury common for $17 per share. Feedback Check My Work Sold 10,000 shares of treasury common for $12 per share. Feedback Check My Work Declared cash dividends of $1.5 per share on preferred stock and $0.08 per share on common stock. Feodback Check My Work Paid the cash dividends