A company has 20,000 shares of $12 par common stock outstanding. Present entries to record the following:
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a. Purchased 3,000 shares of treasurystock at $13. The treasury stock is accountedfor by the cost method.
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b. Declared a 1% per share stock dividend.The market price per share at time of declaration was$30.
c. Sold 1500 shares of treasury stock at$15.
d. Issued the stock from (b)above.
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e. Purchased equipment for $75,000, paying$25,000 in cash and issuing 4,000 shares of common stock for theequipment.
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f. Sold 500 shares of treasury stock at$11.
g. Declared a $1 cash dividend.
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