Selected stock transactions Chart of Accounts Journal Diamondback Welding & Fabrication Corporation sells and services pipe welding equipment in llinois. The tollowing selected accounts appear in the ledger of Diamondback Welding& Fabrication Corporation at the beginning of the current fiscal year: S4.80,000 Preferred 2% Stock. S80 par (100,000 shares authorized, 60,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, S9 par (3,000,000 shares authorized, 1,750,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings 210,000 15,750.000 1,400,000 52,840,00 During the year, the corporation completed a number of transactions affecting the stockholders eauity They are summarized as tollows: Feb. Mar. May Jun. Aug. 2 16 7 27 30 Purchased 87,500 shares of treasury common for $8 per share. Sold 55,000 shares of treasury common for $11 per share. issued 20,000 shares of preferred 2% stock at S84. Issued 400,000 shares of common stock at $13, receiving cash. Sold 18,000 shares of treasury common for $7.50 per share