Selected Stock Transactions The following selected accounts appear in the ledger of Parks Construction Inc. 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 Par-Preferred Stock 640,000 Common Stock, $10 par (500,000 shares authorized, 220,000 shares issued) 2,200,000 Paid-In Capital in Excess of Par-Common Stock 290,000 Retained Earnings 15,116,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 50,000 shares of common stock at $15, receiving cash. b. Issued 10,000 shares of preferred 2% stock at $214. C. Purchased 30,000 shares of treasury common for $13 per share. d. Sold 15,000 shares of treasury common for $16 per share. e. Sold 10,000 shares of treasury common for $11 per share. f. Declared cash dividends of $4.00 per share on preferred stock and $0.06 per share on common stock. g. Paid the cash dividends 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 50,000 shares of common stock at $15, receiving cash. ARA ----- Check My Work Previous Save and Exit Submit Assignment for Grading NOV A 16 tv A vo a == b. Issued 10,000 shares of preferred 2% stock at $214. c. Purchased 30,000 shares of treasury common for $13 per share. d. Sold 15,000 shares of treasury common for $16 per share. e. Sold 10,000 shares of treasury common for $11 per share. f. Declared cash dividends of $4.00 per share on preferred stock and $0.06 per share on common stock. Check My Work Previous Save and Exit Submit Assignment for Grading NOV 16 tv A II- c. Purchased 30,000 shares of treasury common for $13 per share. d. Sold 15,000 shares of treasury common for $16 per share. e. Sold 10,000 shares of treasury common for $11 per share. f. Declared cash dividends of $4.00 per share on preferred stock and $0.06 per share on common stock. g. Paid the cash dividends. Check My Work Previous Save and Exit Submit Assignment for Grading NOV 16 tv 9 - LEE