journal entries and explanations, please!

As of 5/1/2019, Firm XYZ has outstanding 1,000,000 common shares ($1 par value per share). 1) On 5/1/2019, the firm purchases back 2,000 of its common shares at $40 per share. Each repurchased common share has par value of $1 and was originally sold at the market price of $10 per share on 1/1/2018. 2) On 4/1/2020, Firm XYZ decides to sell 2,000 treasury stocks bought on 5/1/2019 back to investors at a price of $30. On 4/1/2020, the balance of Paid-in Capital from Treasury Stock is $5,000, and the balance of Retained Earnings is $1,000,000. Prepare the journal entries to record this transaction. (a) Prepare the journal entry to record item 1. (10 pt) (b) Prepare the journal entry to record item 2. (15 pt) The stockholders' equity accounts of G.K. Chesterton Company have the following balances on December 31, 2020. Common stock, $10 par, 300,000 shares issued and outstanding $3,000,000 Paid-in capital in excess of par-common stock $1,200,000 Retained earnings $5,600,000 Shares of G.K. Chesterton Company stock are currently selling on the Midwest Stock Exchange at $37. Prepare the appropriate journal entries for each of the following cases. (a) A stock dividend of 5% (which is less than 25%) is declared and issued (15 pt) (b) A stock dividend of 100% (which is greater than 25%) is declared and issued (15 pt) () A 2-for-1 stock split is declared and issued (15 pt) Davis Corporation indicated that the following dollar amounts would be available for dividends during four successive years as follows: $4,000; $2,000; and $4,000. The par value of the preferred stock is $60,000 with 5% dividend. If preferred is not cumulative, we have the following: (15 pt) Preferred Common Y1 2 3 Common If preferred is cumulative, we have the following: (15 pt) Preferred YI 2 3