Tem Ora Ltd supplied the following information on its shareholders equity as at

30 June 2015.

Tem Ora Ltd Balance Sheet as at 30 June 2015 (extract)

Shareholders equity	$	$
Capital (400,000 ordinary shares paid to $ 1.00)	400,000
Capital (100,000 7% preference shares paid to $2.00 each)	200,000
Retained earnings	165,000
Dividend equalisation reserve	150,000
Total shareholders equity		915,000

Additional information:

Profit after tax for the year ended 30 June 2016 was $250,000;

On 29 July 2015, buildings were revalued and increased in value by $335,000.

On 7 August 2015, a bonus share issue was made; shareholders were given one share for every eight that they held. The bonus shares were funded from the asset revaluation reserve.

On 25^th June 2016, directors declared a final dividend on ordinary shares of $0.07 per share.

A decision to transfer $80,000 to the dividend equalisation reserve was made on 30 June 2016.

Required:

For the financial year ending 30 June 2016, prepare journal entries to record the above decisions.