1.An analysis of stockholders equity of a company as of January 1, 2015, is as follows:

Common stock, par value $20; authorized 100,000 shares;

issued and outstanding 90,000 shares $1,800,000

Paid-in capital in excess of par 800,000

Retained earnings 760,000

Total $3,360,000

Management uses the cost method of accounting for treasury stock. During 2015 the company entered into the following transactions:

3/31/15 Acquired 2,500 shares of its stock for $75,000.

5/20/15 Sold 2,000 treasury shares at $35 per share.

6/15/15 The board of directors declared a cash dividend of $1.25 per share to be paid on 6/30/15 to stockholders of record at 6/25/15

6/30/15 The company paid the dividend.

8/15/15 Sold the remaining treasury shares at $20 per share

Using T-account

Recognize the balance in the accounts listed above and label them B

Recognize each of the transactions listed above