a,b,f, and g The following selected accounts appear in the...
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a,b,f, and g
The following selected accounts appear in the ledger of Parks Construction Inc. at the beginning of the current year: Preferred2%Stock,$100par(100,000sharesauthorized,80,000sharesissued)Paid-InCapitalinExcessyofPar-PreferredStockCommonStock,$5par(5,000,000sharesauthorized,4,000,000sharesissued)Paid-InCapitalinExcessofPar-CommonStockRetainedEarnings$8,000,000440,00020,000,0002,280,000115,400,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows: a. Issued 220,000 shares of common stock at $14, receiving cash. b. Issued 12,000 shares of preferred 2% stock at $110. c. Purchased 160,000 shares of treasury common for $10 per share. d. Sold 105,000 shares of treasury common for $16 per share. e. Sold 40,000 shares of treasury common for $8 per share. f. Declared cash dividends of $2.00 per share on preferred stock and $0.08 per share on common stock. g. Paid the cash dividends. Journalize the entries to record the transactions. Identify each entry by letter
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