eBook Show Me How Selected Stock Transactions The following selected accounts appear in the ledger of Parks Construction

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Ebook Show Me How Selected Stock Transactions The Following Selected Accounts Appear In The Ledger Of Parks Construction 1 (53.29 KiB) Viewed 17 times

Ebook Show Me How Selected Stock Transactions The Following Selected Accounts Appear In The Ledger Of Parks Construction 2 (53.29 KiB) Viewed 17 times

Ebook Show Me How Selected Stock Transactions The Following Selected Accounts Appear In The Ledger Of Parks Construction 3 (50.35 KiB) Viewed 17 times

Ebook Show Me How Selected Stock Transactions The Following Selected Accounts Appear In The Ledger Of Parks Construction 4 (50.35 KiB) Viewed 17 times

eBook Show Me How Selected Stock Transactions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $100 par (50,000 shares authorized, 25,000 shares issued) Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $25 par (600,000 shares authorized, 200,000 shares issued) Paid-In Capital in Excess of Par--Common Stock Retained Earnings The owners equity in a corporation. During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows: a. Issued 60,000 shares of common stock at $29, receiving cash. b. Issued 13,000 shares of preferred 2% stock at $113. c. Purchased 36,000 shares of treasury common for $30 per share. d. Sold 10,000 shares of treasury common for $33 per share. e. Sold 12,000 shares of treasury common for $28 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.10 per share on common stock. 0. Paid the cash dividends, Required: Journalize the entries to record the transactions. For a compound transaction, an amount box does not require an entry, leave it blank. a. Issued 60,000 shares of common stock at $20, receiving cash b. sed 13,000 shares of preferred 2% od at $113 Purchased 36,000 shares of treasury conmm for $30 por shari, Check My Work THE $2,500,000 400,000 $5,000,000 550,000 4
eBook Show Me How Selected Stock Transactions The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred 2% Stock, $100 par (50,000 shares authorized, 25,000 shares issued) $2,500,000 Paid-In Capital in Excess of Par-Preferred Stock 400,000 Common Stock, $25 par (600,000 shares authorized, 200,000 shares issued) 5,000,000 Paid-In Capital in Excess of Par-Common Stock 650,000 Retained Earnings 18,126,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 60,000 shares of common stock at $29, receiving cash. b. Issued 13,000 shares of preferred 2% stock at $113. c. Purchased 36,000 shares of treasury common for $30 per share. d. Sold 19,000 shares of treasury common for $33 per share. e. Sold 12,000 shares of treasury common for $28 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.10 per share on common stock. a. 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 60,000 shares of common stock at $29, receiving cash. b. Issued 13,000 shares of preferred 2% stock at $123. Purchased 35,000 shares of treasury common for $30 per share Check My Work