Question

the stockholders equity action of Kardashiancorporation balance sheet of december 31,2014 appears asfollows

Contributed Capital

Common Stock $4 par value,5,000.000 shares authorized,300,000shares issued and outstanding $1,200.000

Paid capital in Excess of Par Common 1,600,000

Retained Earnings 2.000.000

Total Stockholders Equity $3,800.000

The following transactions occurred in sequence during 2015.

a Issued 10,000 shares of $100 par value,10% cumulative preferedstock at par.

b. Declared a 2 per 1 stock split on outstandingcommon shares

c. Bought land valued at $850,000 by using 100,000shares of common stock.

d.Declared and issued 10% stock dividend on commonstock issued ans outstanding.The market price per share of commonon the stock declaration date was $9.

e.Repurchased 40,000 shares of stock at $12 pershare

f. Earned net income of $970,000.

g.Declared and paid the full year`s dividends on thepreferred on the stock and $1 share per share on its outstandingcommon share.

Make the neccesary journal entries for the abovetransactions