INSTRUCTIONS: Selected corporation transactions are listed below. For each transaction, indicate the account(s) to be debited and credited by inserting in the appropriate column the letter(s) that correspond to the accounts listed below. (Do not record amounts.)

ACCOUNTS

A. Cash

B. Cash Dividends

C. Cash Dividends Payable

D. Common Stock

E. Organization Cost Expense

F. Paid-In Capital from Sale of Treasury Stock

G. Paid-In Capital in Excess of ParCommon Stock

H. Paid-In Capital in Excess of ParPreferred Stock

I. Preferred Stock

J. Retained Earnings

K. Stock Dividends

L. Stock Dividends Distributable

M. Treasury Stock

0. Issued 10,000 shares of $10 par common stock at $120, receiving cash

1-2. Issued 450 shares of $25 par preferred stock with a fair market value of $30

per share to an attorney in payment of legal fees for organizing the corporation

3-4. Declared a stock dividend of 8,000 shares of $100 par common stock;

fair market value is $150 per share

5-6. Issued stock dividend declared in Question 3-4

7-8. Sold all 500 shares of treasury stock that was originally purchased at

$40 for $75, receiving cash

9-10.Acquired treasury stock for $40 per share. It had originally been $20

par common stock issued at $32 per share

11-12. Declared a cash dividend on common stock