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On January 22, Ireland Corporation issued for cash 13,000 shares of no-par common stock at $35. On February 14, Ireland issued at par value 7,000 shares of preferred stock, $100 par for cash. On August 30, Ireland issued for cash 20,000 shares of preferred 8% stock, $100 par at $113. Journalize the entries to record the January 22. February 14, and August 30 transactions. If an amount box does not require an entry, leave it blank. Jan. 22 Cash Common Stock Feb. 14 Cash Preferred Stock II 11 000 DII II II Aug 30 Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock Oceanic Company has 10,000 shares of cumulative preferred 34 stock, $100 par and 50,000 shares of $20 par common stock. The following amounts were distributed as dividends: 2011 2012 $45,000 12,000 90,000 2013 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, entero, Preferred Stock Common Stock (dividends per share) (dividends per share) 2011 2012 2013 Zurich Corporation has 33,000 shares of $70 par common stock outstanding. On August 2, Zurich Corporation declared a 4% stock dividend to be issued October 8 to stockholders of record on September 15. The market price of the stock was $99 per share on August 2. Journalize the entries required on August 2. September 15, and October 8. If an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" and leave the amount boxes blank. Aug-2 Stock Dividends Stock Dividends Distributable Paid-In Capital in Excess of Par-Common Stock Sept. 15 No Entry Required III II Il III II II No Entry Required Oct. 8 Stock Dividends Distributable Common Stock Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 125,000 shares of preferred 3% stock, $45 par and 650,000 shares of $15 par common stock. The following selected transactions were completed during the first year of operations: Journalize the transactions If an amount box does not require an entry, leave it blank. Feb. 5. Issued 90,000 shares of common stock at par for cash. Feb. 5. Cash Common Stock Feb What is the company receiving and at what price is the stock being issued? Feb. 5. Issued 650 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation Feb. 5. Organizational Expenses Common Stock Apr. 9. Issued 22,500 shares of common stock in exchange for fond, buildings, and equipment with fair market prices of $61,000, $335,000, and $76,500, respectively. Apr. 9. Land Buildings Equipment Common Stock Paid-In Capital in excess of Par Common Stock Check My Wor Record the assets, and increase the common stock account by the per value of the shares. Record any amount above par in a separate paid in capital equity account. Recall that shares of stock can be issued to acquire assets. At what value must the preferred stock and common stock accounts be recorded? June 14. Issued 33,000 shares of preferred stock at $53 for cash. June 14 Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock