The following is the stockholders equity of Piesco Corporation on October 1, 201X: 1. Journalize the transactions

The following is the stockholders’ equity of Piesco Corporation on October 1, 201X:

1. Journalize the transactions in general journal form.
2. Prepare the stockholders’ equity section of the balance sheet using the legal capital approach (see the Blueprint) as of December 31, 201X. The working papers that accompany this text have accounts to update ledger balances. Be sure to put in beginning balances.
201X
Oct. 3 Declared a $0.20 per share dividend on the common stock and a $1.15 per share dividend on the preferred. (The Dividends Payable account will record amounts for both common and preferred, although companies could set up Common Dividend Payable and Preferred Dividend Payable accounts.)
Nov. 15 Dividends were paid that were declared on October 3.
18 Purchased 380 shares of its own common stock at $13 per share.
25 Reissued 100 shares at $22 per share.
26 Declared a 10% stock dividend on common. Market value of stock is $50 per share.
Dec. 29 Distributed stock dividend declared on November 26.
30 Reissued 70 shares of treasury stock at $15 per share.
31 Closed the Income Summary account, which had net income of $83,000, to RetainedEarnings.

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Paid-In Capital Preferred 15% Stock, $9 par value, authorized 5,900 shares, 3,000 shares issued and outstanding Common Stock, $10 par value, authorized 22,000 shares, 9,000 shares issued and outstanding 27,000 90,000 Additional Paid-In Capital: Paid-In Capital in Excess of Par Value-Preferred Paid-In Capital in Excess of Par Value-Common Paid-In Capital in Excess of Par Value-Stock Dividend 14,000 5,000 2,500 Total Additional Paid-In Capital 21,500 $138,500 190,000 $328,500 Total Paid-In Capital Retained Earnings Total Stockholders Equity