journalize the transactions. STOCKHOLDERS EQUITY Contributed Capital: Preferred Stock, 5%, $10 Par, Cumulative, 80,000 shrs authorized, 10,000

journalize the transactions.

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STOCKHOLDERS EQUITY Contributed Capital: Preferred Stock, 5%, $10 Par, Cumulative, 80,000 shrs authorized, 10,000 shrs issued and outstanding. Paid-In Capital in Excess of Par - Preferred Stock. Common Stock, $2 Par, 400,000 shrs authorized, 40,000 shrs issued and outstanding.. Paid-In Capital in Excess of Par - Common Stock. Total Contributed Capital....... Retained Earnings... Total Stockholder's Equity.... 100,000 30,000 80,000 70,000 130,000 150,000 280,000 570,000 850,000 10-Jan Board of director's declared a $12,000 cash dividend payable on February 10th to the February 1st stockholders of record. No dividends are in arrears on the preferred stock. 10-Feb Paid the cash dividends declared on January 10th. Keep track of #shrs and balances on scrap paper 6-Jun Issued 1,000sh of Preferred stock for cash at $15 per share. 7-Jun Issued 2,000sh of Common stock for cash at $7 per share. 1-Sep Corporation declared an $18,000 cash dividend payable on October 1st to the Sept. 15 stockholders of record. 1-Oct Paid the cash dividends declared on September 1st. 31-Dec Closed Income Summary into Retained Earnings. Net income for the year was $130,000. Journalize the transactions. STOCKHOLDERS EQUITY Contributed Capital: Preferred Stock, 5%, $10 Par, Cumulative, 80,000 shrs authorized, 10,000 shrs issued and outstanding. Paid-In Capital in Excess of Par - Preferred Stock. Common Stock, $2 Par, 400,000 shrs authorized, 40,000 shrs issued and outstanding.. Paid-In Capital in Excess of Par - Common Stock. Total Contributed Capital....... Retained Earnings... Total Stockholder's Equity.... 100,000 30,000 80,000 70,000 130,000 150,000 280,000 570,000 850,000 10-Jan Board of director's declared a $12,000 cash dividend payable on February 10th to the February 1st stockholders of record. No dividends are in arrears on the preferred stock. 10-Feb Paid the cash dividends declared on January 10th. Keep track of #shrs and balances on scrap paper 6-Jun Issued 1,000sh of Preferred stock for cash at $15 per share. 7-Jun Issued 2,000sh of Common stock for cash at $7 per share. 1-Sep Corporation declared an $18,000 cash dividend payable on October 1st to the Sept. 15 stockholders of record. 1-Oct Paid the cash dividends declared on September 1st. 31-Dec Closed Income Summary into Retained Earnings. Net income for the year was $130,000. Journalize the transactions.

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