I need help with this. Please help me everything else is correct.
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: During the year, the corporation completed a number of transactions affecting the They are summarized as follows: a. Issued 200,000 shares of common stock at $12, receiving cash. b. Issued 8,000 shares of preferred 2% stock at $115. c. Purchased 175,000 shares of treasury common for $10 per share. d. Sold 110,000 shares of treasury common for $14 per share. e. Sold 30,000 shares of treasury common for $8 per share. f. Declared cash dividends of $1.25 per share on preferred stock and $0.08 per share on common stock. g. Paid the cash dividends. CHART OF ACCOUNTS Parks Construction Inc. General Ledger ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation-Equipment REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 515 Credit Card Expense 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Selling Expenses 534 Rent Expense LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 241 Salaries Payable 261 Mortgage Note Payable 535 Insurance Expense 536 Office Supplies Expense 537 Organizational Expenses 562 Depreciation Expense-Equipment 590 Miscellaneous Expense 710 Interest Expense EQUITY 236 Stock Dividends Distributable 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 261 Mortgage Note Payable EQUITY 236 Stock Dividends Distributable 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends Journalize the entries to record the transactions on December 31. Refer to the Chart of Accounts for exact wording of account titles. JOURNAL Score: 207/224 ACCOUNTING EQUATION \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline & DATE & DESCRIPTION & & POST. REF. & DEBIT & CREDIT & ASSETS & LIABILITIES & EQUITY \\ \hline 1 & Dec. 31v & Cash & v & & 2,400,000.00 & & & & \\ \hline & & Common Stock & v & & & 1,000,000.00v & & & v \\ \hline \multicolumn{4}{|c|}{ Transaction-level score: 3/7} & & 920,000.00v & & & & \\ \hline \multirow{2}{*}{\multicolumn{4}{|c|}{\begin{tabular}{ll} - The debits and credits do not balance. & {[0]} \\ - The transaction does not have the correct number of lines. & {[4]} \end{tabular}}} & & & 800,000.00 & & & \\ \hline & & & & & & 120,000.00v & & & \\ \hline 6 & Dec. 31 & Treasury Stock & v & & 1,750,000.00 & & & & \\ \hline 7 & & Cash & v & & & 1,750,000.00 & & & \\ \hline & Dec. 31v & Cash & v & & 1,540,000.00v & & & & \\ \hline & & Treasury Stock & v & & & 1,100,000.00 & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline 10 & & Paid-In Capital from Sale of Treasury Stock & & 440,000.00 & & & \\ \hline 11 & Dec. 31 & v & 240,000.00v & & & & \\ \hline 12 & & Paid-In Capital from Sale of Treasury Stock & 60,000.00 & & & & \\ \hline 13 & & Treasury Stock & & 300,000.00v & & & \\ \hline 14 & Dec. 31 & Cash Dividends & 443,200.00v & & & & \\ \hline 15 & & & & & & & \\ \hline 16 & & Cash Dividends Payable & & 443,200.00 & & & \\ \hline 17 & Dec. 31 & Cash Dividends Payable & 443,200.00v & & & v & \\ \hline 18 & & Cash & & 443,200.00v & & & \\ \hline \end{tabular} This amount is not graded because this is an extra line in the transaction. Line This is an extra line in the transaction. Transaction Points: 39.74/43 - The order of debits and credits will not be checked because you have a line that [1] has no debit or credit amount. - The transaction does not have the correct number of lines. [2] This transaction was matched to the sixth transaction (lines 15-16) of the solution. The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: During the year, the corporation completed a number of transactions affecting the They are summarized as follows: a. Issued 200,000 shares of common stock at $12, receiving cash. b. Issued 8,000 shares of preferred 2% stock at $115. c. Purchased 175,000 shares of treasury common for $10 per share. d. Sold 110,000 shares of treasury common for $14 per share. e. Sold 30,000 shares of treasury common for $8 per share. f. Declared cash dividends of $1.25 per share on preferred stock and $0.08 per share on common stock. g. Paid the cash dividends. CHART OF ACCOUNTS Parks Construction Inc. General Ledger ASSETS 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation-Equipment REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 515 Credit Card Expense 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Selling Expenses 534 Rent Expense LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 241 Salaries Payable 261 Mortgage Note Payable 535 Insurance Expense 536 Office Supplies Expense 537 Organizational Expenses 562 Depreciation Expense-Equipment 590 Miscellaneous Expense 710 Interest Expense EQUITY 236 Stock Dividends Distributable 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 261 Mortgage Note Payable EQUITY 236 Stock Dividends Distributable 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Stock Dividends Journalize the entries to record the transactions on December 31. Refer to the Chart of Accounts for exact wording of account titles. JOURNAL Score: 207/224 ACCOUNTING EQUATION \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline & DATE & DESCRIPTION & & POST. REF. & DEBIT & CREDIT & ASSETS & LIABILITIES & EQUITY \\ \hline 1 & Dec. 31v & Cash & v & & 2,400,000.00 & & & & \\ \hline & & Common Stock & v & & & 1,000,000.00v & & & v \\ \hline \multicolumn{4}{|c|}{ Transaction-level score: 3/7} & & 920,000.00v & & & & \\ \hline \multirow{2}{*}{\multicolumn{4}{|c|}{\begin{tabular}{ll} - The debits and credits do not balance. & {[0]} \\ - The transaction does not have the correct number of lines. & {[4]} \end{tabular}}} & & & 800,000.00 & & & \\ \hline & & & & & & 120,000.00v & & & \\ \hline 6 & Dec. 31 & Treasury Stock & v & & 1,750,000.00 & & & & \\ \hline 7 & & Cash & v & & & 1,750,000.00 & & & \\ \hline & Dec. 31v & Cash & v & & 1,540,000.00v & & & & \\ \hline & & Treasury Stock & v & & & 1,100,000.00 & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline 10 & & Paid-In Capital from Sale of Treasury Stock & & 440,000.00 & & & \\ \hline 11 & Dec. 31 & v & 240,000.00v & & & & \\ \hline 12 & & Paid-In Capital from Sale of Treasury Stock & 60,000.00 & & & & \\ \hline 13 & & Treasury Stock & & 300,000.00v & & & \\ \hline 14 & Dec. 31 & Cash Dividends & 443,200.00v & & & & \\ \hline 15 & & & & & & & \\ \hline 16 & & Cash Dividends Payable & & 443,200.00 & & & \\ \hline 17 & Dec. 31 & Cash Dividends Payable & 443,200.00v & & & v & \\ \hline 18 & & Cash & & 443,200.00v & & & \\ \hline \end{tabular} This amount is not graded because this is an extra line in the transaction. Line This is an extra line in the transaction. Transaction Points: 39.74/43 - The order of debits and credits will not be checked because you have a line that [1] has no debit or credit amount. - The transaction does not have the correct number of lines. [2] This transaction was matched to the sixth transaction (lines 15-16) of the solution
