PROBLEM 1(6 POINTSH When Daenerys Corporation was formed on January 1, 2018, the corporate charter provided for 500,000 shares of $1 par value common stock The following transactions were among those engaged in by the corporation during its first month of operation: an 5: Jan 28: The company issued 55,000 shares of stock at a price ostapershare. The company issued 47 market value of the stock on this date was $16 per share -IS, ceo ares of stock in exchange for equipment that had a fair market value of $800,000. The , goo,ete-W7460 REQUIRED: Prepare the journal entries for the transactions above: DATE ACCOUNT TITLES DEBIT CREDIT Eqluphcht PROBLEMIL (12 POINTS Sansa Company's balance sheet shows: Common stock, $1 par Additional paid in capital Retained earnings $ 1,000,000 6,000,000 12.000,000 REQUIRED: Prepare the journal entries for the transactions below: (a) Bought back 15,000 shares of its own common stock at $19 per share (b) Reissued (Sold) 7,000 treasury shares at $24 per share. (c) Reissued (Sold) 6,000 shares of treasury stock at $16 per share. (d) Retired the remaining treasury stock shares. The shares were originaly issued at an average price of $7 per share DEBIT CREDIT DATE ACCOUNT TITLES