In January 2018, Gardner Corporation was authorized to issue 100,000 shares of $10 par value common stock and $50,000 shares of $80 par, 4 percent, preferred the journal entries for the following transactions:

a) March Issued 25,000 shares of common stock for $21 per share for cash.

date	Description	Debitt	Credit

b) March 1 Issued 5,000 shares of preferred stock for $90 per share for cash.

Date	Description	Debit	Credit

c) June 1 Purchased 400 shares of common stock as treasury stock at $25 per share.

Date	Description	Debit	Credit

d) Dec 1 Declared the dividend on outstanding shares of preferred stock and a $1 per share dividend on the common stock outstanding.

Date	Description	Debit	Credit

e) Dec 10 Date of record .

Date	Description	Debit	Credit

f) Dec 30 Paid the dividends declared on December 1.

Date	Description	Debit	Credit

g) As of December 31st how mony shares of common stock were: * Issued ________. * Outstanding ______________.

As December 31st how many shares of preferred stock were: Issued ___________. Outstanding __________.

h) Complete the following balance sheet as December 31, 2018:

Assets

Cash $526,000

Accounts Receivable 300,000

Inventory 451,000

Total Assets $1,277,000

Liabilities and Stockholders Equity

Account Payable $200,000

Total Liabilities $200,000

Common Stock

Preferred Stock

Paid in Capital in Excess of Par, CS

Paid in Capital in Excess of Par, PS Treasury Stock 112,000

Retained Earnings

Total Equity

Total Liabilities and Stockholders' Equity