accounting

Project Description:

the balance sheet of relaxation at december at 31,2013 reported 650,000 share of 2 per commom stock authorize with 120,000 share isssuse and outstanding. paid in captital in execess of per had a balance of 310,000. retained earnings had a balance of 140,000. during 2014 the company commplete the following transactions

feb 15 purchased 5,000 share of treasury stock at 6 per share

mar 8 sold 1,000 share of treasury stock for 13 per share

sep 28 declared and distributed a 5% stock dividend on the 116,000 share of outstanding common stock. the market value of relaxation's common stock was 7 per share
1. record the trans nation in the journal. explanation not required.
2. prepare the stockholder equity section of the balance sheet at december 31, 2014 assuming the company earned $74,000 of net income during the year.
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Price Type: Negotiable

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