Question: Problem 8: Stockholders' Equity Transactions (18 points) A. Patrick Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2012, the

Problem 8: Stockholders' Equity Transactions (18 points) A. Patrick Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During

Problem 8: Stockholders' Equity Transactions (18 points) A. Patrick Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2012, the company has the following stock transactions Jan. 15 Sept. 5 Dec. 6 Issued 600,000 shares of stock at $7 per share. Purchased 20,000 shares of common stock for the treasury at $8 per share. Declared a $0.50 per share dividend to stockholders of record on December 20, payable January 3, 2013 Instructions Journalize the transactions for Patrick Corporation

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