Selected Stock Transactions

The following selected accounts appear in the ledger of Orion Inc. on February 1, 2014, the beginning of the current fiscal year: During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.

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

Journalize the entries to record the transactions.

For a compound transaction, if an amount box does not require an entry, leave it blank.

Required:

a. Issued 360,000 shares of common stock at $22, receiving cash.

b. Issued 14,000 shares of preferred 1% stock at $43.

c. Purchased 66,000 shares of treasury common for $18 per share.

d. Sold 51,000 shares of treasury common for $21 per share.

e. Sold 10,000 shares of treasury common for $16 per share.

f. Declared cash dividends of $0.40 per share on preferred stock and $0.03 per share on common stock.

g. Paid the cash dividends.

Selected Stock TransactionsThe following selected accounts appear in the ledger of Orion Inc. on February 1, 2014, the beginning of the current fiscal year: During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank g. Paid the cash dividends. f. Declared cash dividends of $0.40 per share on preferred stock and $0.03 per share on common stock. e. Sold 10,000 shares of treasury common for $16 per share.Sold 51,000 shares of treasury common for $21 per share.b. Issued 14,000 shares of preferred 1% stock at $43.Preferred 1% Stock, $40 par (75,000 shares authorized, 45,000 shares issued) $ 1 ,80,000 Paid-In Capital in Excess of Par?Preferred Stock 72,000 Common Stock, $12 par (2,000,000 shares authorized, 1,250,000 shares issued) 15,000,000 Paid-In Capital in Excess of Par?Common Stock 3,750,000 Retained Earnings 45,450,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Required: a. Issued 360,000 shares of common stock at $22, receiving cash