On January 1, 2023, Derii Corporation ( a public corporation ) had the following shareholders equity accounts:

Common Shares( 100,000 shares issued ) $1,200,000

Retained Earnings 612,000

During 2023, the following selected transactions occurred:

Jan. 15 Declared a $.50 cash dividend per common share to the shareholders of record on January 31, payable on February 15.

Feb. 15 Paid the dividend declared on January 15.

Apr. 15 Declared a 10% common share dividend to the shareholders of record on April 30, distributable on May 15. On April 15, the market price of the common shares was $16 per share.

May 15 Distributed the common share dividend declared on April 15.

July 1 Announced a 2-for-1 common share split. The market price per common share at the time of the announcement was $17.

Dec. 1 Declared a $1.00 cash dividend per common share to the shareholders of record on December 15, payable on January 10, 2024.

Dec. 15 Reacquired 5,000 common shares for $4.00 cash per share.

Dec. 20 Issued 25,000 common shares in exchange for equipment. The fair market value of the equipment was $160,000. On this day, the common shares were trading at $7 per share.

Instructions:

Prepare the journal entries for the above transactions for Derii Corporation for the fiscal year-ended December 31, 2023.