The stockholders' equity section of the balance sheet of the Conte Corporation at December 31 is shown

Question:

The stockholders' equity section of the balance sheet of the Conte Corporation at December 31 is shown below.

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a Determine the total book value and the book value per common share as of December 31.
b For each of the following transactions or events, give the appropriate journal entry and determine the total book value and the book value per common share of the Conte Corporation after the transaction. The transactions and events are independent of each other, except where noted.
(1) A 10 -percent stock dividend is declared when the market price of Conte Corporation's common stock is $\$ 50$ per share.
(2) A two-for-one stock split is declared and the par value of the common stock is reduced from $\$ 10$ to $\$ 5$ per share. The new shares are issued immediately.
(3) Ten thousand shares of Conte Corporation's common stock are purchased on the open market for $\$ 50$ per share and held as treasury stock.
(4) Ten thousand shares of Conte Corporation's common stock are purchased on the open market for $\$ 30$ per share and held as treasury stock.
(5) The shares acquired in (3) are sold for $\$ 60$ per share.
(6) The shares acquired in (3) are sold for $\$ 40$ per share.
(7) The shares acquired in (3) are sold for $\$ 30$ per share.
(8) Options to acquire 10,000 shares of Conte Corporation stock are exercised by officers for $\$ 20$ per share.
(9) Same as (8), except that the exercise price is $\$ 40$ per share.
(10) Convertible bonds with a book value of $\$ 300,000$ and a market value of $\$ 340,000$ are exchanged for 10,000 shares of common stock having a market value of $\$ 34$ per share. No gain or loss is recognized on the conversion of bonds.
(11) Same as (10), except that gain or loss is recognized on the conversion of bonds into stock. Ignore income tax effects.
c Using the results from $\mathbf{b}$, summarize the transactions and events that result in a reduction in (1) total book value (2) book value per share.