For each of the following transactions, present the journal entries in two-column form. These transactions do not relate to the same set of records.

a The shares of no-par stock of a corporation are selling on the market at \(\$ 200\) a share. In order to bring the market value down to a "more popular" figure, the board of directors votes to issue five shares to stockholders in exchange for each share already held by them. The shares are issued.

b The treasurer of the corporation reports that cash on hand exceeds normal requirements by \(\$ 200,000\). Pending a decision by the board of directors on the final disposition of the funds, investments in marketable securities in the amount of \(\$ 198.640\) are made.

c The net income for the year is \(\$ 150,000\). The directors vote to issue 500 shares of 6-percent, \(\$ 15\)-par-value preferred stock as a stock dividend on the 2,500 shares of nopar common stock outstanding. The preferred's market price is \(\$ 20\) a share. The common's market price is \(\$ 5\) a share.

d After the books are closed and the financial statements are issued, it is discovered that an arithmetic error was made in calculating depreciation on equipment for the preceding period. The depreciation charged was \(\$ 900\) too high.