Week 8Homework cBook Show Me How Calculator 1. PR.13-03.ALGO Selected Stock Transactions 2. PR.13-02.BLANKSHEET.AL. 3. PR. 13-01. ALGO The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year Preferred 2% Stock, $50 par (70,000 shares authorized, 35,000 shares issued) $1,750,000 Paid-In Capital in Excess of Par-Preferred Stock 210,000 Common Stork, $25 par (A00,000 shares authorized, 260,000 shares issued) 6,500,000 Paid-In Capital in Excess of Par-Common Stock 850,000 Retained Earnings 19,737,000 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 $32, receiving cash. b. Issued 18,000 shares of preferred 2% stock at $63. C. Purchased 48,000 shares of treasury common for $27 per share. d. Sold 24,000 shares of treasury common for $30 per share. e. Sold 16,000 shares of treasury common for $25 per share. f. Declared cash dividends of $1.00 per share on preferred stock and $0.05 per share on common stock. g. Paid the cash dividends. Required: Journalize the entries to record the transactions For a compound transaction, if an amount box does not require an entry, leave it blank, a. Issued 80,000 shares of common stock at $32, receiving cash. b. Issued 18,000 shares of preferred 2% stock at $63. Check My Work Progress: 1/3 items : Next > Assignment Score: 0.0% Save and Exit Submit Assignment for Grading Week 8Homework cBook Show Me How Calculator 1. PR.13-03.ALGO b. Issued 18,000 shares of preferred 2% stock at $63 2. PR.13-02.BLANKSHEET.AL. 3. PR.13-01.ALGO c. Purchased 16,000 shares of treasury common for $27 per share. d. Sold 24,000 shares of treasury common for $30 per share e. Sold 16,000 shares of treasury common for S25 per share. 1. Declared cash dividends of S1 per share on preferred stock and $0.06 per share on common stock. Progress: 1/3 items Check My Work Next > Assignment Score: 0.0% Save and Exit Submit Assignment for Grading Week 8Homework cBook Show Me How Calculator 1. PR.13-03.ALGO 2. PR.13-02.BLANKSHEET.AL. C. Purchased 48,000 shares of treasury common for $27 per share. 3. PR.13-01.ALGO d. Sold 24,000 shares of treasury common for $30 per share e. Sold 16,000 shares of treasury common for S25 per share. f. Declared cash dividends of Si per share on preferred stock and $0.06 per share on common stock. g. Paid the cash dividends. Check My Work Next > Progress: 1/3 items Assignment Score: 0.0% Save and Exit Submit Assignment for Grading