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Selected Stock Transactions let me know if you have trouble reading the question. ill redo the pictures Instructions The following selected accounts appear in the
Selected Stock Transactions let me know if you have trouble reading the question. ill redo the pictures
Instructions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current fiscal year Preferred 1% Stock, $50 par (100,000 shares authorized, 75, 100 shares issued) $3,755,000 Paid In Capital in Excess of Par-Preferred Stock 165,220 5,070,000 Common Stock, $3 par (5,000,000 shares authorized, 1,690,000 shares issued) Paid-in Capital in Excess of Par-Common Stock 1,014,000 Retained Earnings 30,836,000 During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows: Jan 5 Issued 454,700 shares of common stock at $8 receiving cash Feb. 10 Issued 11,800 shares of preferred 1% stock at $61 Mar. 19 Purchased 46,500 shares of treasury stock for 58 per share May 16 Sold 20.700 shares of treasury stock for $10 per share Aug 25 Sold 5,700 shares of treasury stock for $7 per share. Dec 6 Declared cash dividends of $0.50 per share on preferred stock and SO 10 per share on common stock 31 Paid the cash dividends. Journalize the entries to record the transactions Refer to the Chart of Accounts for exact wording of countries PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS 1 LIABILITIES Jan. 5 Cash EQUITY 2 Common Stock 3 Paid-In Capital in Excess of Par-Common Stock 4 Feb. 10 Cash 5 Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Mar. 19 Treasury Stock 8 Cash 9 May 16 Cash 10 12 Treasury Stock Paid-In Capital from Sale of Treasury Stock Aug. 25 Cash Paid-In Capital from Sale of Treasury Stock Treasury Stock Dec. 6 Cash Dividends 15 14 15 Tel. 0 was Preferred Stock 6 Paid-In Capital in Excess of Par-Preferred Stock 7 Mar. 19 Treasury Stock Cash 9 May 16 Cash 10 Treasury Stock 11 12 15 14 Paid-In Capital from Sale of Treasury Stock Aug. 25 Cash Paid-In Capital from Sale of Treasury Stock Treasury Stock Dec 6 Cash Dividends Cash Dividends Payable Dec. 31 Cash Dividends Payable 15 16 17 18 Cash
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