on the first day of the fiscal year jkb construction inc had 185 000 shares of 50 pa 541412

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