statement of stockholders equity

Instructions $7,980,000 877,800 Common stock, $20 stated value (500,000 shares authorized, 399,000 shares issued) Paid In Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (22,500 shares, at cost) 34,554,000 382,500 The following selected transactions occurred during the year Jan. 22 Apr 10 Paid cash dividends of S0.07 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for S26,355 Issued 73,000 shares of common stock for $23 per share. Sold all of the treasury stock for $26 per share. Declared a 2% Stock dividend on common stock, to be capitalized at the market price of the stock, which is $24 Darshara: Jun Jul. 5 Instructoris Apr. 10 Jun. 6 6 Jul Issued 73,000 shares of common stock for $23 per share. Sold all of the treasury stock for $26 per share. Declared a 2% Stock dividend on common stock, to be capitalized at the market price of the stock, which is $24 per share. Issued the certificates for the dividend declared on July 5. Purchased 30,000 shares of treasury stock for S20 per share. Declared a $0.09-per-share dividend on common stock. Closed the two dividends accounts to Retained Earnings. Aug. 15 Nov. 23 Dec. 28 31 Required: 1. Enter the January 1 balances in T accounts for the stockholders' equilty accounts listed. If required, round your answers to nearest dollar. 2. Journalize the entries to record the transactions and post to the eight selected accounts. Assume that the closina entry for Statement of Stockholders' Equity For the Year Ended December 31, 2016 Ret Common Stock Paid-In Capital in Excess of Stated Value $877,800.00 219,000.00 Paid-in Capital from Sale of Treasury Stock Earl $345 $7,980,000.00 1,460,000.00 188,800.00 37,760.00 2: Paid-in Capital in Excess of Par-Preferred Stock Issued common stock Cash dividends Cash dividends purchase of treasury stock cash dividend declared net profit Total paid-in capital $9,628,800.00 $1,134,560,00 $202,500.00