Abc company began operations on 1-1-06, and immediatly issued stock, recieving cash. abc balance sheet on 12-31-06 reported the following stockholders equity.
common stock, $1 par $50,000
additional paid in capital 200,000
retained earnings 38,000
trasury stock, 500 shares (2000)
total shareholder's equity $286,600


during 2006 abc
A. issued stock for $5 a share
B. Reaquinted 800 shares for corprate treasury paying $4 a share.
C. resold some treasury shabcares
D. earned net income of 56000 and declared and paid dividends.

journalize all transactions over the year.

Revenues 171000
______ expenses 115000
______ retained earnings 56000