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 (50,000 shares authorized, 25,000 shares issued)	$5,000,000
Paid-In Capital in Excess of ParPreferred Stock	1,000,000
Common Stock, $10 par (500,000 shares authorized, 260,000 shares issued)	2,600,000
Paid-In Capital in Excess of ParCommon Stock	340,000
Retained Earnings	18,953,000

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

Issued 50,000 shares of common stock at $14, receiving cash.

Issued 13,000 shares of preferred 2% stock at $217.

Purchased 30,000 shares of treasury common for $12 per share.

Sold 15,000 shares of treasury common for $15 per share.

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

Declared cash dividends of $4.00 per share on preferred stock and $0.10 per share on common stock.

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 $14, receiving cash.

b. Issued 13,000 shares of preferred 2% stock at $217.

c. Purchased 30,000 shares of treasury common for $12 per share.

d. Sold 15,000 shares of treasury common for $15 per share.

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

f. Declared cash dividends of $4.00 per share on preferred stock and $0.10 per share on common stock.

g. Paid the cash dividends.