Samson Company had the following transactions. 1. Issued 4,000 shares of $100 par preferred stock at $107 for cash. 2. Issued 8,000 share of common stock with a par value of $10 for $110,000. 3. Purchased 500 shares of treasury common stock for $12,000. Instructions Prepare the journal entries to record the above stock transactions. PROBLEM 2: Lindy Corporation has 1,000,000 authorized shares of $20 par value common stock. As of June 30, 2012, there were 600,000 shares issued and outstanding. On June 30, 2012, the board of directors declared a $0.30 per share cash dividend to be paid on August 1, 2012 Instructions Prepare the necessary journal entries to be recorded on (a) the date of declaration, (b) the date of record and (c) payment date. PROBLEM 3: Miles Co. had these transactions during the current period. June July Nov. 12 11 28 issued 60.000 shares of $3 stated value common stock for cash of $250,000, Issued 2.000 shares of $100 par value preferred stock for cash at $106 per share. Purchased 2,000 shares of treasury stock for $10,000. Instructions Prepare the journal entries for the preceding transactions PROBLEM 4: The following are selected accounts and balances from the records of Doran Corporation on June 30, 2012 $500,000 150,000 Common Stock, $10 par value, 75,000 shares authorized, 50,000 shares issued Paid-in Capital in Excess of Par Value-Common Stock Preferred Stock, $100 par value, 8%, 3,000 shares authorized and issued Retained Earnings Treasury Stock (10,000 common shares) Paid-in Capital in Excess of Par Value-Preferred Stock 300,000 250,000 150,000 30,000 Instructions Prepare in proper form the stockholders' equity section of the balance sheet