It is entries for selected corporate transactions. I have some of the questions answered already.
Morrow Enterprises Inc. manufactures bathroom fixtures. The stockholders’ equity accounts of Morrow Enterprises Inc., with balances on January 1, 2014 are as follows;
Common Stock $20 stated value (500,000 shares authorized, 375,000 shares issued)……$7,500,000
Paid-in capital in excess of stated value (common stock)……………………………………….$825,000
Retained earnings………………………………………………………………………………………………..$33,600,000
Treasury stock (25,000 shares at cost)…………………………………………………………….$450,000
 

The following selected transactions occurred during the year.
Jan 22. Paid cash dividends of $.08 per share on common stock. The dividend had been properly recorded when declared on Dec. 1 of the preceding fiscal year for $28,000.
April 10. Issued 75,000 shares of common stock for $24 per share
June 6. Sold all of the treasury stock for $26 per share
July 5. Declared a 4% stock dividend on common stock to be capitalized at the market price of the stock which is $25 per share.
Aug 15. Issued the certificates for the dividend declared on July 5.
Nov 23. Purchased 30,000 shares of treasury stock for $19 per share.
Dec 28. Declared a $.10 per share dividend on common stock.
Dec 31. Closed the credit balance of the income summary account, $1,125,000
Dec 31. Closed the two dividend accounts to Retained Earnings

Instructions:
1. Enter the January 1 balances in T accounts for the stockholders’ equity accounts listed. Also prepare T accounts for the following; Paid-In capital from sale of treasury stock, Stock dividends distributable, Stock dividends, cash dividends.
2. Journalize the entries to record the transactions, and post to the eight selected accounts.
3. Prepare a retained earnings statement for the year ended December 31,2014.
4. Prepare the Steockholders equity section of the December 31,2014 balance sheet.