Warner Corporation stockholders’ equity consisted of the following on January 1, 2015: Stockholders’ Equity Paid-In Capital…

Warner Corporation stockholders’ equity consisted of the
following on January 1, 2015:

Stockholders’ Equity

Paid-In Capital

Capital Stock

Common Stock, no par, $15 stated value, 1,000,000 shares
authorized
400,000 shares issued and outstanding

6,000,000

Additional Paid-In Capital

APIC – Common Stock
4,600,000

Total Paid-In Capital

10,600,000

Retained Earnings

4,100,000

Total Stockholders’ Equity

14,700,000

Prepare the appropriate journal entries, if any, for the
following transactions in 2015. If no journal entry is required,
please clearly indicate that. Show your
computations.
2/20/15: Issued 60,000 shares of common stock for $35 per
share
3/31/15: The Board of Directors declared a cash dividend on
common stock of $2.00 per share, payable on May 1, to stockholders
of record on April 15.
4/15/15: Date of record for cash dividends on common stock.
5/1/15: Paid the cash dividend to common stockholders.
10/10/15: Purchased 20,000 shares of their common stock as
treasury stock for $40 per share.
Prepare the Stockholder’s Equity section of the Balance Sheet
for December 31, 2015