Instructions: Journalize the Transactions 11. On February 12, Carlos Corporation issues 2,000 shares of $6 par value common stock for cash at $16 per share. Journalize the issuance of the stock. 12. On March 1, Carlos Corporation reacquires 800 shares of its $6 par value common stock at a cash price of $12 per share. Journalize the transactions. 13. Assuming that net income for Carlos Corporation in its first year of operation is $260,000; record the closing entry. 14. Assume that Carlos Research Inc, is an existing publicly held corporation. Its $8 par value stock is actively traded at $10 per share. The company issues 10,000 shares of stock to acquire land recently advertised for sale at $110,000. Record the transactions. 15. On May 26, Carlos Corporation issues 2,000 shares for $8 par value preferred stock for cash at \$28 per share. Journalize the issuance of the preferred shares. 16. Assume that on July 1, Carlos Corporation sells for $8 per share 400 of the 800 shares of its treasury stock previously acquired at $12 per share. (H2 above) Journalize the transaction. 17. Also refer to Problems \#2 \& \#6 above. If Carlos Corporation sells an additional 300 shares of treasury stock on June 1 at \$14 per share, journalize the transactions