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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, $200 par (40,000 shares authorized, 20,000 shares issued) $4,000,000 Pald-In Capital in Excess of Par-Preferred Stock 800,000 Common Stock, $15 par (600,000 shares authorized, 190,000 shares issued) 2,850,000 Pald-in Capital in Excess of Par-Common Stock 370,000 Retained Earnings 17,002,000 During the year, the corporation completed a number of transactions affecting the stockholders indulty. They are summarized as follows: a. Purchased 34,000 shares of treasury common for $17 per share. b. Sold 18,000 shares of treasury common for $20 per share. c. Issued 10,000 shares of preferred 2% stock at $213. d. Issued 60,000 shares of common stock at $21, receiving cash e. Sold 12,000 shares of treasury common for $15 per share. 1. Declared cash dividends of $4.00 per share on preferred stock and $0.06 per share on common stock 0 Paid the cash dividends. Required: Journalize the entries to record the transactions If an amount box does not require an entry, leave it blank 9. Paid the cash dividends. Required: Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. a. 3 b.

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