Outstanding

Jan. 26 TS 825,000.00 Reacquisition

Cash 825,000.00

Apr. 4 Cash 630,000.00 Sold-TS

TS 495,000.00
Share premium- TS 135,000.00

Jun. 1 Retained earnings 870,000.00 Balance

Cash dividends payable 870,000.00

Jun. 15 No entry

Jul. 1 Cash dividends payable 870,000.00

Cash 870,000.00

Aug. 15 Memo

Sept. 30 Cash 3,750,000.00 Share issuance

Common stock 3,000,000.00
Share premium- Common 750,000.00

Nov. 20 Memo entry Outstanding 2,340,000.00 Balance

Par value 5.00 Split-up

Dec. 5 Equipment 390,000.00

Common stock 300,000.00
Share premium 90,000.00

Dec. 31 Income summary 720,000.00

Retained earning 720,000.00
Outstanding 900,000 Common stock 9,000,000.00
Reacquisition 75,000 Sept. 30 3,000,000.00
Dec. 5 300,000.00
Common stock- Dec. 31 12,300,000.00
45,000

Additional Paid in capital 750,000.00

Share premium- TS 135,000.00
870,000 Share premium- common
Sept. 30 750,000.00
Dec. 5 90,000.00
Share premium- Dec. 31 1,725,000.00

Retained earnings- Jan. 1 2,700,000.00

Dividends declaration (870,000.00)
Treasury shares (330,000.00)
Net income 720,000.00
Share issuance 300,000 Retained earnings- unappropriated 2,220,000.00

1,170,000 Common stock 12,300,000.00

2,340,000 Share premium 1,725,000.00
Retained earnings 2,550,000.00
Treasury shares (330,000.00)
60,000 SHE- Dec. 31 16,245,000.00