The following selected accounts appear in the ledger of EJ Construction Inc. at the beginning of the current fiscal year:

Preferred 1% Stock, $50 par (100,000 shares authorized, 80,000 shares issued)	$4,000,000
Paid-In Capital in Excess of ParPreferred Stock	175,000
Common Stock, $3 par (5,000,000 shares authorized, 2,000,000 shares issued)	6,000,000
Paid-In Capital in Excess of ParCommon Stock	1,500,000
Retained Earnings	32,350,000

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

Jan.

5

Issued 500,000 shares of common stock at $8, receiving cash.

Feb.

10

Issued 10,000 shares of preferred 1% stock at $60.

Mar.

19

Purchased 50,000 shares of treasury common for $7 per share.

May

16

Sold 20,000 shares of treasury common for $9 per share.

Aug.

25

Sold 5,000 shares of treasury common for $6 per share.

Dec.

6

Declared cash dividends of $0.50 per share on preferred stock and $0.08 per share on common stock.

31

Paid the cash dividends.

DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18