The following shareholders' equity accounts are reported by Cullumber Inc. on January 1:

Common shares (unlimited authorized, 171,000 issued)		$2,736,000
Preferred shares ($4 cumulative, convertible, 100,000 authorized, 6,400 issued)		480,000
Contributed surplusreacquisition of common shares		32,800
Retained earnings		1,274,000

The following selected transactions occurred during the year:

Feb.		11		Issued 57,000 common shares at $20 per share.
Mar.		2		Reacquired 20,900 common shares at $22 per share.
June		14		Split the common shares 2 for 1 when the common shares were trading at $30 per share.
July		25		Reacquired 520 preferred shares at $70 per share.
Sept.		16		Reacquired 57,000 common shares for $17 per share.
Oct.		27		Declared a 5% common stock dividend distributable on December 13 to shareholders of record on November 24. The fair value of the common shares on October 27 was $19 per share.
Dec.		13		Distributed the stock dividend declared on October 27. The fair value of the common shares on December 13 was $21 per share.

(a)

Prepare journal entries for the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. Round average per share to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 5,276.)

Date	Account Titles and Explanation	Debit	Credit
	(Issued common shares for cash.)
Mar. 2
	(To record reacquisition of common shares.)
	(To record reacquisition of preferred shares.)
Sept. 16
	(To record reacquisition of common shares.)
	(To record declaration of stock dividend.)
	(To record distribution of stock dividend.)