Record stock transactions. (LO 1, 2, 3, 4) On the first day of the fiscal year, JKB
Question:
Record stock transactions. (LO 1, 2, 3, 4)
On the first day of the fiscal year, JKB Construction Inc. had 185,000 shares of \(\$ .50\) par common stock issued and outstanding, and the retained earnings balance was \(\$ 165,000\). Show each of the following transactions in the accounting equation.
a. Issued 15,000 additional shares of common stock for \(\$ 16\) per share
b. Distributed a \(20 \%\) stock dividend
c. Issued 10,000 additional shares of common stock for \(\$ 15\) per share
d. Declared a cash dividend on outstanding shares of \(\$ 1.10\) per share
e. Paid the dividend declared in item \(\mathrm{d}\)
f. Purchased 1,000 shares of treasury stock for \(\$ 16\) per share g. Sold 250 shares of treasury stock for \(\$ 18\) per share h. Sold 200 shares of treasury stock for \(\$ 15\) per share i. Declared 2-for-1 stock split
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