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

a. Purchases 10,000 shares of S10 par value common stock for $30 per share.

b. Issues 6.000 treasury shares to employees under stock option plans. The exercise price is S32 per share. Assume that the market price of the common stock on the exercise date is S35 per share. The stock options had a value of $6 a share when issued, w hich the firm has already amortized to expense.

c. Purchases 7.000 shares of common stock for $38 per share.

d. Issues 8,000 treasury shares in the acquisition of land valued at $300,000. Danos Corporation uses a FIFO assumption for reissues of treasury stock.

e. Sells the 3.000 remaining shares of treasury stock for $36 per share.