Required information

$[$The following information applies to the questions displayed below.$]$

The following selected transactions occurred for Corner Corporation:

Prepare journal entries for each of the transactions. $($If no entry is required for a transaction$/$event$,$ select $"R$

Journal Entry Required" in the first account field.$)$

Indicate the account, amount, and direction of the effect for the above transactions. $($Enter any decreases to account balances with

a minus sign.$)$

What impact does the purchase of treasury stock have on dividends paid?

What impact does the reissuance of treasury stock for an amount higher than the purchase price have on net

income?

The reissuance of treasury stock for more or less than its original repurchase cost