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Part 1

At December 31,

2021,

Eastern

Corporation reported the stockholders' equity accounts shown here (with dollar amounts in millions, except per-share amounts).

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Part 1

Eastern's

2022

transactions included

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Requirements

1.	Journalize Eastern's transactions in parts b, c, d, and e. Explanations are not required.
2.	What was the overall effect of these transactions (parts a-e) on Eastern's stockholders' equity?

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Part 1

Requirement 1. Journalize

Eastern's

transactions in b, c, d, and e. Explanations are not required. (Enter amounts in millions as provided to you in the problem statement. Record debits first, then credits. Exclude explanations from any journal entries.)

b. Issuance of

22

million shares of common stock for

$12.00

per share.

Journal Entry
Date	Accounts	Debit	Credit
b.

Part 2

c. Purchase of

11

million shares of treasury stock for

$143

million.

Journal Entry
Date	Accounts	Debit	Credit
c.

Part 3

d. Sold

7

million of the treasury shares purchased in part c for

$105

million

Journal Entry
Date	Accounts	Debit	Credit
d.

Part 4

e 1. Declaration and payment of cash dividends of

$36

million.

Journalize the declaration of the dividend only. You will prepare the journal entry for the payment of the dividend next.

Journal Entry
Date	Accounts	Debit	Credit
e 1.

Part 5

e 2. Declaration and payment of cash dividends of

$36

million.

Now journalize the payment of the cash dividends.

Journal Entry
Date	Accounts	Debit	Credit
e 2.

Part 6

Requirement 2. What was the overall effect of these transactions (parts a through e) on

Eastern's

stockholders' equity? (Enter a net decrease with a minus sign or parentheses.)

The overall net increase (decrease) on stockholders' equity, in millions, is