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The following selected accounts appear in the ledger of Davis Company at the beginning of the current year: Preferred 1% Stock, $50 par (100,000 shares $ 2,500,000 authorized, 50,000 shares issued) Paid-In Capital in Excess of Par-Preferred 250,000 Stock Common Stock, $10 par (2,000,000 shares 10,000,000 authorized, 1,000,000 shares issued) Paid-in Capital in Excess of Par-Common 1,000,000 Stock Retained Earnings 45,000,000 During the year, the corporation completed a number of transactions affecting the Stockholders' equity. They are summarized as follows: a. Purchased 60,000 shares of treasury common for $9 per share. b. Sold 50,000 shares of treasury common for $11 per share. c.Issued 40,000 shares of preferred 1% stock at $70, receiving cash. d. Issued 300,000 shares of common stock at $15, receiving cash. e. Sold 10,000 shares of treasury common for $8 per share. f. Declared cash dividends of $.50 per share on preferred stock and $0.05 per share on common e. Sold 10,000 shares of treasury common for $8 per share. f. Declared cash dividends of $.50 per share on preferred stock and $0.05 per share on common stock. g. Paid the cash dividends. 1. Required: Record the transactions. Use these Account Names: (Use Copy and paste to put the names into the table.) Buildings Legal Expense Cash PIC, Common Common Stock PIC, Preferred Dividends Payable Common PIC, Treasury Dividends Payable Preferred Stock Preferred Equipment Retained Earnings Land Treasury Stock Ang I Non Business Majors (05336) Oriments Assets Liabilities Stockholders' Equity Account Amount Account Amount Account Amount b. C d. 2. Prepare the Stockholders' Equity Section of the Balance Sheet. Stock 550 par (100,000 shares ed 90.000 shares issued) En Stock 510 par 2,000,000 shares red 1,100,000 shares issued) Capital in Excess of Par-Preferred din Capital in Excess of Par-Common Stock Pidin Capital in Excess of Par-Treasury Stock Total Paid in Capital Metained Earnings Stock 50 par (100,000 shares horred, 90,000 shares issued) Common Stock 510 par (2,000,000 shares authorized, 1,300,000 shares issued) Pald-in Capital in Excess of Par-Preferred Stock Paid in Capital in Excess of Par--Common Stock Pald in Capital in Excess of Par-Treasury Stock Total Pald in Capital Retained Earnings Less: Treasury Stock Total Stockholders' Equity Calculator Submit All Parts The following selected accounts appear in the ledger of Davis Company at the beginning of the current year: Preferred 1% Stock, $50 par (100,000 shares $ 2,500,000 authorized, 50,000 shares issued) Paid-In Capital in Excess of Par-Preferred 250,000 Stock Common Stock, $10 par (2,000,000 shares 10,000,000 authorized, 1,000,000 shares issued) Paid-in Capital in Excess of Par-Common 1,000,000 Stock Retained Earnings 45,000,000 During the year, the corporation completed a number of transactions affecting the Stockholders' equity. They are summarized as follows: a. Purchased 60,000 shares of treasury common for $9 per share. b. Sold 50,000 shares of treasury common for $11 per share. c.Issued 40,000 shares of preferred 1% stock at $70, receiving cash. d. Issued 300,000 shares of common stock at $15, receiving cash. e. Sold 10,000 shares of treasury common for $8 per share. f. Declared cash dividends of $.50 per share on preferred stock and $0.05 per share on common e. Sold 10,000 shares of treasury common for $8 per share. f. Declared cash dividends of $.50 per share on preferred stock and $0.05 per share on common stock. g. Paid the cash dividends. 1. Required: Record the transactions. Use these Account Names: (Use Copy and paste to put the names into the table.) Buildings Legal Expense Cash PIC, Common Common Stock PIC, Preferred Dividends Payable Common PIC, Treasury Dividends Payable Preferred Stock Preferred Equipment Retained Earnings Land Treasury Stock Ang I Non Business Majors (05336) Oriments Assets Liabilities Stockholders' Equity Account Amount Account Amount Account Amount b. C d. 2. Prepare the Stockholders' Equity Section of the Balance Sheet. Stock 550 par (100,000 shares ed 90.000 shares issued) En Stock 510 par 2,000,000 shares red 1,100,000 shares issued) Capital in Excess of Par-Preferred din Capital in Excess of Par-Common Stock Pidin Capital in Excess of Par-Treasury Stock Total Paid in Capital Metained Earnings Stock 50 par (100,000 shares horred, 90,000 shares issued) Common Stock 510 par (2,000,000 shares authorized, 1,300,000 shares issued) Pald-in Capital in Excess of Par-Preferred Stock Paid in Capital in Excess of Par--Common Stock Pald in Capital in Excess of Par-Treasury Stock Total Pald in Capital Retained Earnings Less: Treasury Stock Total Stockholders' Equity Calculator Submit All Parts