10152020 issued the shares in conjunction with the

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was $7/share. 10/15/2020 Issued the shares in conjunction with the stock dividend. 11/18/2020 Repurchased 190,000 shares of its own common stock for $6/share. 12/14/2020 Sold 130,000 shares held in its treasury for $9/share. 12/30/2020 Closed out any and all dividend accounts. 12/31/2020 Closed out $57,000,000 of revenues and $39,000,000 of expenses for fiscal 2020. Instructions YOU MUST COMPLETE THE PROJECT MANUALLY (BY HAND), NO COMPUTERS/TABLETS! 1) Open T-accounts for the stockholders' equity acconts that contain balances on
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January 1, 2020 and insert the appropriate balance labeling it 1/1/20. 2) Record formal journal entries for the 2020 transactions. Journal descriptions are not required. 3) Post the 2020 journal entries to the stockholders' equity T- accounts (or create new stockholders' equity T-accounts if necessary) labeling each entry with the apporpriate date. 4) Prepare the stockholders' equity section of the balance sheet at December 31, 2020. Follow the format on page 646 (Method 1) displayed in your textbook
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