Journal entries for treasury stock transactions. Prepare journal entries to record the following treasury stock transactions of Danos Corporation.

a. Purchases 12,000 shares of \(\$ 10\)-par value common stock for \(\$ 40\) per share.

b. Issues 5,000 treasury shares to employees under stock option plans. The exercise price is \(\$ 42\) per share. Assume that the market price of the common stock on the exercise date is \(\$ 45\) per share. Also assume that the firm used the APB Opinion No. 25 method to account for the stock options.

c. Purchases 8,000 shares of common stock for \(\$ 48\) per share.

d. Issues 10,000 shares of common stock in the acquisition of land valued at \(\$ 440,000\). Danos Corporation uses a FIFO assumption for reissues of treasury stock.

e. Sells the 5,000 remaining shares of treasury stock for \(\$ 46\) per share.