Assume that J\&J's common stock has a par value of $1 per share. (A) In light of the additional concepts discussed in this Chapter concerning owners' equity accounts, return to the following transactions from Problems 2A, 2B, 3 and 4B. Restate the indicated entries involving capital accounts, using the new account titles, capital stock, additional paid-in-capital and retained earnings: (a) From Problem 2A, transaction 1; (b) From Problem 2B, the closing entry required to close out the P \& L Account to a capital account; (c) From Problem 2B, the owners' equity portion of the balance sheet as of August 31; (d) From Problem 3, the closing entry required to close out the P \& L Account to a capital account; (e) From Problem 3, the owners' equity portion of the balance sheet as of August 31; (f) From Problem 4B, the closing entry required to close out the P \& L Account to a capital account; and (g) From Problem 4B, the owners' equity portion of the balance sheet as of September 30. (B) Assume the board of directors of J\&J decides to declare and pay a cash dividend of $2 per share to its stockholders during the month of October. Prepare bookkeeping entries to account for that dividend, at the time of declaration and at the time of payment. (C) Assume instead the board of directors of J\&J decides to declare and pay a stock dividend of 1 share of stock for each share outstanding to its stockholders during the month of October. Prepare bookkeeping entries to account for that dividend, at the time of declaration and at the time of payment. (D) Under what circumstances involving bookkeeping for dividends would it be necessary to know the market value of the shares of the corporation paying the dividend? Was it necessary in either problem (B) or (C) to know the market value or market price of J\&J stock