1. Prepare the appropriate journal entries for each transactions.
2. How many shares are issued and outstanding at the end of 2013?

ABC Inc. has the following stockholders' equity on January 1, 2013: Common stock, 500,000 shares, $5 par... Contributed capital in excess of par-common... Treasury Stock, 50,000 shares... Retained earnings... Paid in capital - Share repurchase... $2,500,000 $7,500,000 $1,100,000 $6,000,000 $50,000 Throughout the year, ABC Inc. has made the following transactions: January 7th ABC Inc. acquires 20,000 shares when the market price was $24 per share. February 5th Retires 30,000 shares when the market price was $21 per share. March 19th Reissues 50,000 shares of treasury stock at $25 per share. ABC Inc. uses the FIFO method. April 28th ABC Inc. decides to retire their remaining treasury stock when the market is $23 per share. May 14th Issues an additional 25,000 shares in exchange for a piece of equipment that has a fair market value of $550,000. July 20th ABC Inc. declares that there will be a two-for-one stock split August 3rd October 12th ABC Inc. declares a 10% stock dividend when the current market price is $25. There are fractional shares equivalent to 5,000 shares that will be paid in cash. A $1 cash dividend is declared. The date of record is October 20th, and the date of payment will be October 31st. December 8th A 40% stock dividend is issued. Required: 1) Prepare the appropriate journal entries for each transactions. 2) How many shares are issued and outstanding at the end of 2013