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On January 1, 2014, Agassi Corporation had the following stockholders equity accounts. Common Stock ($10 par value, 50,000 shares issued and outstanding) $500,000 Paid-in Capital

On January 1, 2014, Agassi Corporation had the following stockholders equity accounts.

Common Stock ($10 par value, 50,000 shares issued and outstanding) $500,000
Paid-in Capital in Excess of ParCommon Stock 480,000
Retained Earnings 600,000

During 2014, the following transactions occurred.

Jan. 15 Declared and paid a $1.05 cash dividend per share to stockholders.
Apr. 15 Declared and paid a 10% stock dividend. The market price of the stock was $13 per share.
May 15 Reacquired 1,800 common shares at a market price of $15 per share.
Nov. 15 Reissued 900 shares held in treasury at a price of $18 per share.
Dec. 31 Determined that net income for the year was $360,000.

a. Journalize the above transactions. (Include entries to close net income to Retained Earnings.)

PLEASE DO THIS PROBLEM UNDER IFRD STANDARD

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