< orporate transactions Instructions Chart of Accounts Amount Descriptions T Accounts Journal Instructions Morrow Enterprises Inc. manufactures bathroom fixtures. Morrow Enterprises' stockholders equity accounts, with balances on January 1, 2018, are as folows Common stock, $20 stated value (500,000 shares authorized, 352.000 shares issued) $7,040,000 Paid-In Capital in Excess of Stated Value-Common Stock 774,400 32,153,000 Retained Earnings. 478,000 Treasury Stock (25,200 shares, at cost) The following selected transactions occurred during the year: Jan. Apr. 22 10 Paid cash dividends of $0.05 per share on the common stock The dividend had been property recorded when declared on December 1 of the preceding fiscal year for $16,340 Issued 73,000 shares of common stock for $25 per share Instructions Morrow Enterprises Inc. manufactures bathroom fixtures. Morrow Enterprises' stockholders' equity accounts, with balances on January 1, 2018 are as follows Common stock, $20 stated value (500,000 shares authorized, 352,000 shares issued) $7,040,000 Retained Earnings Paid-In Capital in Excess of Stated Value-Common Stock Treasury Stock (25,200 shares, at cost) The following selected transactions occurred during the year: 774,400 -32.153,000 476,800 Jan. 22 Paid cash dividends of $0.05 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $16,340 Apr. 10 Issued 73,000 shares of common stock for $25 per share