Answer:
March 1, issuance of 54,000 common stocks
Dr 2,754,000
Cr Common stocks 54,000
Cr Additional paid in capital in excess of par value 2,700,000
May 10, repurchase of 4,900 treasury socks at $54 each
Dr Treasury stocks 264,600
Cr Cash 264,600
June 1, a cash dividend is declared ($1.45 per stock, 149,100 outstanding stocks)
Dr Retained earnings 216,195
Cr Dividends payable 216,195
July 1, cash dividends are paid
Dr Dividends payable 216,195
Cr Cash 216,195
October 21, 2,450 treasury socks are resold at $59 each
Dr Cash 144,550
Cr Treasury stocks 132,300
Cr Additional paid in capital in excess of par value 12,250
