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The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2 % Stock, $ 1
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year:
Preferred Stock, $ par shares authorized, shares issued $
PaidIn Capital in Excess of ParPreferred Stock
Common Stock, $ par shares authorized, shares issued
PaidIn Capital in Excess of ParCommon Stock
Retained Earnings
During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows:
a Issued shares of common stock at $ receiving cash.
b Issued shares of preferred stock at $
c Purchased shares of treasury common for $ per share.
d Sold shares of treasury common for $ per share.
e Sold shares of treasury common for $ per share.
f Declared cash dividends of $ per share on preferred stock and $ per share on common stock.
g Paid the cash dividends.
Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles.
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