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4.The balance sheet of Morrisey Management Consulting, Inc. at December 31, 2015, reported the following stockholders' equity: Paid-In Capital: Stockholders' Equity Common Stock-$10 Par
4.The balance sheet of Morrisey Management Consulting, Inc. at December 31, 2015, reported the following stockholders' equity: Paid-In Capital: Stockholders' Equity Common Stock-$10 Par Value; 300,000 shares authorized, 25,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings Total Stockholders' Equity $250,000 320,000 570,000 158,000 $728,000 During 2016, Morrisey completed the following selected transactions: Feb. 6 Declared a 15% stock dividend on common stock. The market value of Morrisey's stock was $23 per share. 15 Distributed the stock dividend. Jul. 29 Purchased 2,100 shares of treasury stock at $23 per share. Nov. 27 Declared a $0.20 per share cash dividend on the common stock outstanding. Requirements Record the transactions in the general journal. (Hint: for the last activity on Nov.27, don't forget the effect of stock dividends and treasury stock transactions.)
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