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Selected stock transactions Chart of Accounts Journal Instructions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year $8 000 000 440,000 Preferred 2% Stock, $100 par (100,000 shares authorized 80,000 shares issued) Paid-In Capital in Excess of Par Preferred Stock Common Stock. $5 par (5,000,000 shares authorized, 4,000,000 shares issued) Paid-In Capital in Excess of Par-Common Stock Retained Eamings 20,000,000 2 280.000 115.400.000 During the year, the corporation completed a number of transactions affecting the stockholdersequity. They are summarized as follows: 2. Issued 200.000 shares of common stock at $12. receiving cash. b. Issued 8,000 shares of preferred 2% stock at $115. c Purchased 175,000 shares of treasury common for $10 per share. a Sold 110.000 shares of treasury common for $14 per share e. Sold 30.000 shares of treasury common for $8 per share 1 Declared cash dividends of $1.25 per share on preferred stock and 50.08 per share on common stock Paid the cash dividends Check My Work Journal Journalize the entries to record the transactions on December 31. Refer to the Chart of Accounts for exact wording of account the PADE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTIOH POSTER DEBIT CREDIT ASSETS BASILITIES EUT Cash Common Stock Paid in Capital in Excess of Par-Common Stock Cash Preferred Stock Paic-in Capital in Excess of Par-Preferred Stock Treasury Stock Cast Check My Work ebook Show Me How Selected stock transactions Instruction Chart of Accounts Journal Journal Pald.in capitin Excess of Preferred Sock Treasury Stock Cash 1 10 11 Treasury Stock Paid in Capital from Sate of Treasury Stoo Cash Paid In Capital from Site of Treasury Stock Treasury Stock I 11 Cash Dividends Cash Dividers Payable Dec 31 Cash Didends Payable Cath Cuck My Work Seat Saber All work se