The following selected transactions occurred for Corner Corporation:

February 1	Purchased 490 shares of the companys own common stock at $29 cash per share; the stock is now held in treasury.
July 15	Issued 145 of the shares purchased on February 1 for $39 cash per share.
September 1	Issued 105 more of the shares purchased on February 1 for $24 cash per share.

Required:

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

The following selected transactions occurred for Corner Corporation: February 1 Purchased 490 shares of the company's own common stock at $29 cash per share; the stock is now held in treasury. July 15 Issued 145 of the shares purchased on February 1 for $39 cash per share. September 1 Issued 105 more of the shares purchased on February 1 for $24 cash per share. Required: 1. Indicate the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account balances wit) a minus sign.) Journal entry worksheet Record the purchase of 490 shares of previously issued common stock for a price of $29 per share. Note: Enter debits before credits. Journal entry worksheet Record the re-issuance of 145 shares of treasury stock previously purchased for a price of $29 per share and sold for a price of $39 per share. Note: Enter debits before credits. Journal entry worksheet 1 Record the re-issuance of 105 shares of treasury stock previously purchased for a price of $29 per share and sold for a price of $24 per share. Note: Enter debits before credits. 3. What impact does the purchase of treasury stock have on dividends paid? 4. What impact does the reissuance of treasury stock for an amount higher than the purchase price have on net income