144. Prepare journal entries for the following transactions.
a) Issued 6,000 shares of $50 par value preferred stock at $80 per share.
b) Issued 40,000 shares of no-par common stock with a $20 stated value for cash of $25 per share.
c) Purchased 400 shares of treasury stock (common stock) at $30 per share.
d) Resold 100 shares of the treasury stock at $35 per share.
145. Prepare the journal entries needed for the following transactions occurring during 2011 for King, Inc.:
a) On 2/1/11, King purchased for cash, in the open market, 1,000 shares of its own common stock at $40 per share.
b) On 7/1/11, 200 of the shares purchased on 2/1/11 were sold at $43 per share.
146. Fine Corp. has 250,000 shares of common stock authorized. It has issued 75,000 shares and has reacquired 12,000 of these shares as treasury stock. Fine subsequently declared a cash dividend of $3 per share. What is the total amount of dividends that were declared?