During 2005, the following transactions related to the capital stock of the Buffet-Line Corp.

occurred:
Jan. 7 Declared a $.75 cash dividend on 150,000 shares of preferred stock. Feb. 7 Paid dividends on
preferred stock. March 4 Declared a $.50 cash dividend on 200,000 shares of common stock with a $20
par value. March 18 Paid dividends on common stock. June 30 Split common stock 4-for-1. July 9
Purchased 12,000 shares of Buffet-Line's own common stock at $32 per share; acquisition recorded at
cost. Sept. 10 Declared a cash dividend of $.40 per share on common stock outstanding. Sept. 18 Paid
dividends on common stock. Provide the entries to record the above transactions. 10. The stockholders'
equity section of Jessie Corp. is presented below. Common stock, $20 par value, authorized 1,000,000
shares, issued and outstanding 400,000 shares ....... $ 8,000,000 Additional paid-in capital
............................ 2,400,000 Retained earnings ..................................... 10,800,000 Total stockholders'
equity ............................ $21,200,000 Complete the following table to depict the number of shares of
stock and balances in the stockholders' equity accounts after each of the following transactions. Each
situation is to be considered independently of the others. (a) 15 percent stock dividend, market value
$25 per share (b) 2-for-1 stock split (c) 100 percent stock dividend, market value $25 per share
Additional Total Total Outstanding Common Paid-In Retained Stockholders' Shares Stock Capital
Earnings Equity (a) (b) (c)