Stockholders Equity: Transaction Descriptions from Account Data

The following T-accounts contain keyed entries representing five transactions involving the stockholders equity of Riverview, Inc.:

Cash
(1)	90,000
(2)	40,000
		12,800	(4)
(5)	6,480

Paid-in Capital in Excess of Par valueCommon Stock
		35,000	(3)

Land
(3)	85,000

Common Stock, $10 Par
		40,000	(2)
		50,000	(3)

Preferred Stock, $50 Par
		75,000	(1)

Paid-in Capital from Treasury Stock
		1,360	(5)

Paid-in capital in Excess of Par valuePreferred Stock
		15,000	(1)

Treasury Stock
(4)	12,800*	5,120	(5)

*900 shares of common stock

Required

Using this information, give detailed descriptions, including number of shares and price per share when applicable, for each of the five transactions.

General Journal
Date	Description	Debit	Credit
1	AnswerCashPreferred StockPaid-in-Capital in Excess of Par Value - Preferred StockCommon StockPaid-in-Capital in Excess of Par Value - Common StockTreasury Stock - CommonPaid-in-Capital from Treasury StockLand	Answer	Answer
	AnswerCashPreferred StockPaid-in-Capital in Excess of Par Value - Preferred StockCommon StockPaid-in-Capital in Excess of Par Value - Common StockTreasury Stock - CommonPaid-in-Capital from Treasury StockLand	Answer	Answer
	Paid-in-Capital in Excess of Par Value - Preferred Stock	Answer	Answer
	Issued shares of preferred stock at per share.
2	AnswerCashPreferred StockPaid-in-Capital in Excess of Par Value - Preferred StockCommon StockPaid-in-Capital in Excess of Par Value - Common StockTreasury Stock - CommonPaid-in-Capital from Treasury StockLand	Answer	Answer
	AnswerCashPreferred StockPaid-in-Capital in Excess of Par Value - Preferred StockCommon StockPaid-in-Capital in Excess of Par Value - Common StockTreasury Stock - CommonPaid-in-Capital from Treasury StockLand	Answer	Answer
	Issued shares of common stock at par value.
3	AnswerCashPreferred StockPaid-in-Capital in Excess of Par Value - Preferred StockCommon StockPaid-in-Capital in Excess of Par Value - Common StockTreasury Stock - CommonPaid-in-Capital from Treasury StockLand	Answer	Answer
	Common Stock	Answer	Answer
	AnswerCashPreferred StockPaid-in-Capital in Excess of Par Value - Preferred StockCommon StockPaid-in-Capital in Excess of Par Value - Common StockTreasury Stock - CommonPaid-in-Capital from Treasury StockLand	Answer	Answer
	Issued shares of common stock in exchange for land.
4	AnswerCashPreferred StockPaid-in-Capital in Excess of Par Value - Preferred StockCommon StockPaid-in-Capital in Excess of Par Value - Common StockTreasury Stock - CommonPaid-in-Capital from Treasury StockLand	Answer	Answer
	AnswerCashPreferred StockPaid-in-Capital in Excess of Par Value - Preferred StockCommon StockPaid-in-Capital in Excess of Par Value - Common StockTreasury Stock - CommonPaid-in-Capital from Treasury StockLand	Answer	Answer
	Purchased shares of treasury stock for per share.
5	AnswerCashPreferred StockPaid-in-Capital in Excess of Par Value - Preferred StockCommon StockPaid-in-Capital in Excess of Par Value - Common StockTreasury Stock - CommonPaid-in-Capital from Treasury StockLand	Answer	Answer
	Treasury Stock - Common	Answer	Answer
	AnswerCashPreferred StockPaid-in-Capital in Excess of Par Value - Preferred StockCommon StockPaid-in-Capital in Excess of Par Value - Common StockTreasury Stock - CommonPaid-in-Capital from Treasury StockLand	Answer	Answer
	Sold shares of treasury stock for per share.