E8-12B. Record stock transactions (LO I, 2, 3, 4)
On the first day of the fiscal year, JKB Construction Inc. had 185,000 shares of $.50 par common stock issued and outstanding, and the retained earnings balance was $165,000.
Show each of the following transactions in the accounting equation.
a. Issued 15,000 additional shares of common stock for $16 per share
b. Distributed a2070 stock dividend
c. Issued 10,000 additional shares of common stock for $15 per share
d. Declared a cash dividend on outstanding shares of $ 1.10 per share
e. Paid the dividend declared in item d
f. Purchased 1,000 shares of treasury stock for $16 per share
g. Sold 250 shares of treasury stock for $18 per share
h. Sold 200 shares of treasury stock for $15 per share
i. Declared 2-for-l stock split