Unformatted text preview: Declared and issued a 2% common stock dividend. The dividend occurred subsequent to the above described treasury stock transactions. The market value of the stock was $13 per share. Transaction G: Reacquired 20,000 common shares for treasury at $11 per share. Transaction H: Closed the annual net income of $800,000 from Income Summary to Retained Earnings. (a) Prepare journal entries for the above described transactions. (b) Prepare the 20X5 statement of stockholders' equity reflecting the above described transactions. (c) Prepare the stockholders' equity section of Dry Dock's balance sheet at December 31, 20X5....
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- Spring '11