on the first day of the fiscal year zenith corporation had 1 90 000 shares of 1 par 541398

E8-12A. Record stock transactions (L.O I,2, 3,4)

On the first day of the fiscal year, Zenith Corporation had 1 90,000 shares of $ 1 par common stock issued and outstanding and the retained earnings balance was $350,000. Show how each of the following transactions would affect the accounting equation.

a. Issued 10,000 additional shares of common stock for $15 per share b. Distributed a I07o stock dividend

c. Issued 5,000 additional shares of common stock for $14 per share

d. Declared a cash dividend on outstanding shares of $ 1.20 per share

e. Paid the dividend declared in item d

f. Purchased 500 shares of treasury stock for $15 per share

g. Sold 200 shares of treasury stock for $17 per share

h. Sold 250 shares of treasury stock for $14 per share

i. Declared 2-foy1, stock split