During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased...
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Accounting
During the current year, the following transactions affected its stockholders' equity accounts. January 2 Purchased 4,000 shares of its own stock at $20 cash per share. February 28 Paid the dividend declared on January 5. July 6 Sold 2,000 of its treasury shares at $24 cash per share. August 22 Sold 2,000 of its treasury shares at $16 cash per share. October 28 Paid the dividend declared on September 5 . Required: 1. Prepare journal entries to record each of these transactions. 2. Prepare a statement of retained earnings for the current year ended December 31 . 3. Prepare the stockholders' equity section of the balance sheet as of December 31 of the current year
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