P10-89B. (Learning Objectives 3, 4: Measuring the effects of dividend and treasury share transactions on a company) Assume Cookie Corner completed the following transactions during 20X6, the company’s fifth year of operations:

Requirement 1. Analyze each transaction in terms of its effect on the accounting equation of Cookie Corner of Wisconsin, Inc.

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Feb. 4 Mar. 20 Apr. 25 Aug. 17 Sep. 4 Nov. 28 Issued 14,000 shares (1.00 par) for cash of 360,000. Purchased 2,200 shares of the company's own ordinary share at 22 per share. Sold 900 shares of treasury shares-ordinary for 31 per share. Declared a cash dividend on the 15,000 shares of 0.80 no-par preference shares. Paid the cash dividends. Distributed a 5% share dividend on the 99,000 shares of 1.00 par ordinary share outstanding. The market value of the ordinary share was 23 per share.