Entries for selected corporate transactions Instructions Chart of Accounts Labels and Amount Descriptions IN Instructions Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders equity accounts of Morrow Enterprises Inc., with balances on January 1, 2045, are as follows: $7,380,000 Common stock, $20 stated value (500,000 shares authorized, 369,000 shares issued) Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (23,300 shares, at a cost of 518 per share) 848,700 33,497,000 419,400 Jan The following selected transactions occurred during the year: 22 Paid cash dividends of $0.08 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $27,656. Issued 72,000 shares of common stock for $24 per share. Sold all of the treasury stock for $26 per share. Declared a 2% stock dividend on common stock, to be capitalized at the market price of the stock which is $26 per share. Apr 10 Jun 6 5 o