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journalize the following transactions made by Parks Construction Inc. ...

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Accounting

journalize the following transactions made by Parks Construction Inc.

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Chart of Accounts Instructions Preferred 1% Stock, $50 par (100,000 shares authorized, 81,900 shares issued) $4,095,000 Paid-In Capital in Excess of Par- Preferred Stock Common Stock, $3 par (5,000,000 shares authorized, 1,780,000 shares issued) 5,340,000 Paid-In Capital in Excess of Par-Common Stock Retained Earnings 155,610 1,602,000 35,256,000 During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows: an 5 Issued 493,300 shares of common stock at $7, receiving cash. Feb.---10 Issued 8,800 shares of preferred 1% stock at $60. Mar 19 Purchased 46,700 shares of treasury common for $7 per share. May 16 Sold 18,400 shares of treasury common for $9 per share Aug. 25 Sold 4,900 shares of treasury common for $6 per share Dec. : S-Declared cash dividends of S0.50 per share on preferred stock and S0.08 per share on common stock 31 Paid the cash dividends. KPi Previous Next Check My Work 353 PM ^dw 12/3/2017

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