Selected Stock Transactions The following selected accounts appear in the ledger of Upscale Construction Inc. at the beginning of the current year: Preferred 2% Stock, $50 par (30,000 shares authorized, 15,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $15 par (800,000 shares authorized, 290,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Earnings 21 $750,000 120,000 4,350,000 570,000 12,275,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 80,000 shares of common stock at $21, receiving cash. b. Issued 8,000 shares of preferred 2% stock at $62. c. Purchased 48,000 shares of treasury common for $17 per share. d. Sold 24,000 shares of treasury common for $20 per share. e. Sold 16,000 shares of treasury common for $15 per share. f. Declared. cash dividends of $1.00 per share on preferred stock and $0.04 per share on common stock. g. 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. Issued 80,000 shares of common stock at $21, receiving cash. b. Issued 8,000 shares of preferred 2% stock at $62.

Selected 5tock Travsactions The following seiected accounts appear in the ledger of Upicale Construction Inc. at the beginning of the current year: During the veat, the corporation completed a number of transactions affecting the stocblolders equity. They are summarited si followi: a. tisued 80,000 shares of common stock at $21, receiving caun. b. Iwued 8,000 shares of preferred 2% stock at $62 c. Nurchased 40,000 shares of tressury commen for $17 per share. d. Sold 24,000 shares of treasury common for 320 per share e. Sold 16,000 shares of treasury common for $15 per whare. C. Declared cash dividends of $1,00 per share an preterred stock and $0,04 per share on common steck. Q. Faid the cash envisends. Mequired 4. Sold 24,000 shares ef treanury common fer 120 per share. 6. Sold 16,000 shares of t/mavn comman for 115 per shere Paid the cashi andends. g. Paid the cash dividends