I-9 Networking Solutions began operations on January 1, 2014, and immediately issued its stock,…

I-9 Networking Solutions began operations on January 1, 2014, and immediately issued its stock,…

I-9 Networking Solutions began operations on January 1, 2014, and immediately issued its stock, receiving cash. I-9’s balance sheet at December 31, 2014, reported the following stockholders’ equity: Common stock, $ 1 par…………………. $ 56,000Additional paid- in capital……………… 394,400Retained earnings………………………… 41,000Treasury stock, 500 shares……………. (2,000)Total stockholders’ equity…………….$ 489,400During 2014, I- 9 a. Issued stock for $ 8 per share. b. Purchased 800 shares of treasury stock, paying $ 4 per share. c. Resold some of the treasury stock. d. Declared and paid cash dividends.Requirement Journalize all of I-9’s stockholders’ equity transactions during the year. I-9’s entry to close net income to Retained Earningswas
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I 9 Networking Solutions began operations on January 1 2014 and

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