Question
Victoria, Inc., is one of the world's leading manufacturers of athletic shoes and sports apparel. The following activities occurred during a recent year. The
Victoria, Inc., is one of the world's leading manufacturers of athletic shoes and sports apparel. The following activities occurred during a recent year. The amounts are rounded to millions, except for par value. a. Purchased additional buildings for $184 and equipment for $250; paid $408 in cash and signed a long-term note for the rest. b. Issued 100 shares of $2 par value common stock for $340 cash. c. Declared $140 in dividends to be paid in the following year. d. Purchased additional short-term investments for $7,616 cash. e. Several Victoria, Inc., investors sold their own stock to other investors on the stock exchange for $92. f. Sold $4,213 in short-term investments for $4,213 in cash. Required: Prepare journal entries for the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions.)
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