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Selected Stock Transactions Diamondback Welding & Fabrication Corporation sells and services pipe welding equipment in Illinois. The following selected accounts appear in the ledger of Diamondback Welding & Fabrication at the beginning of the current year: Preferred 2% Stock, $100 per (40,000 shares authorized, 20,000 shares issued) $2,000,000 Paid-In Capital in Excess of Par-Preferred Stock 240,000 Common Stock $10 par (800,000 shares authorized, 270,000 shares issued) 2,700,000 Pald-tn Capital in Excess of Par-Common Stock 350,000 Retained Earnings 11,215,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: 2. Purchased 48,000 shares of treasury common for $11 per share. b. Sold 24,000 shares of treasury common for $14 per share. c.Issued 10,000 shares of preferred 2% stock at $114 d. Issued 80,000 shares of common stock at $17, receiving cash e. Sold 16,000 shares of treasury common for $9 per share. 1. Declared cash dividends of $2.00 per share on preferred stock and $0.06 per share on common stock 9. Pald the cash dividends. Required: Soumalize the entries to record the transactions If an amount box does not require an entry, leave it blank, Previous Next Check My Work 3 more Check My Work uses remaining 2 EPIN si BOOK Show Me How Journalize the entries to record the transactions if an amount box does not require an entry leave thank III JII II II. HII III II Check My Wormo Check My Worming Prvous EPIC a 8 3 - $ 8 7 % 5 9 8 # 3 Y T W E R L J H . G F s D V M N . V C 38 cption command book Show Me How III III II ID HII III III II II > Previous EPIC Ow My Workmore Che Wor 0) O B 0 S % 5 8 7 6 2 3 P U T Y 70 E W G H F s D "V M N B V C 92 command

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