145.Prepare the journal entries needed for the following transactions occurring during 2013 for Valentino, Inc.:a) On 2/1/13, Valentino purchased for cash, in the open market, 2,000 shares of its own...

145.Prepare the journal entries needed for the following transactions occurring during 2013 for Valentino, Inc.:


a) On 2/1/13, Valentino purchased for cash, in the open market, 2,000 shares of its own common stock at $40 per share.
b) On 7/1/13, 800 of the shares purchased on 2/1/13 were sold at $38 per share.

146.Jessup Corp. has 250,000 shares of common stock authorized. It has issued 85,000 shares and has reacquired 9,000 of these shares as treasury stock. Jessup subsequently declared a cash dividend of $5 per share. What is the total amount of dividends that were declared?