Selected Stock Transactions

Diamondback Welding & Fabrication Corporation sells and services pipe welding equipment in Illinois. The following selected accounts appear in the ledger of Diamondback Welding & Fabrication at the beginning of the current year:

Preferred 2% Stock, $200 par (40,000 shares authorized, 20,000 shares issued)	$4,000,000
Paid-In Capital in Excess of ParPreferred Stock	480,000
Common Stock, $10 par (800,000 shares authorized, 180,000 shares issued)	1,800,000
Paid-In Capital in Excess of ParCommon Stock	230,000
Retained Earnings	13,801,000

During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows:

1. Purchased 48,000 shares of treasury common for $11 per share.
2. Sold 24,000 shares of treasury common for $14 per share.
3. Issued 10,000 shares of preferred 2% stock at $219.
4. Issued 80,000 shares of common stock at $13, receiving cash.
5. Sold 16,000 shares of treasury common for $9 per share.
6. Declared cash dividends of $4.00 per share on preferred stock and $0.06 per share on common stock.
7. Paid the cash dividends.

Required:

Journalize the entries to record the transactions.

If an amount box does not require an entry, leave it blank.

a. Treasury Stock . Cash Cash b. Treasury Stock Paid-In Capital from Sale of Treasury Stock Cash C. Preferred Stock II III III III II II III III III II Paid-In Capital in Excess of Par-Preferred Stock d. Cash Common Stock Paid-In Capital in Excess of Par-Common Stock e. Cash Paid-In Capital from Sale of Treasury Stock Cash e. Paid-In Capital from Sale of Treasury Stock Treasury Stock Cash Dividends f. 111 II II II II Cash Dividends Payable Cash Dividends Payable g. Cash