show the journal entries for the above transactions.

Marble Corporation had the following balances in its
stockholders’ equity accounts at December 31, 2007:

Common Stock,
$10 par, 50,000 shares authorized,
20,000 shares
issued $200,000
Contributed Capital in Excess of Par Value,
Common 250,000
Retained Earnings 500,000

Treasury Stock, 1,000 shares (20,000 )
Total
stockholders’ equity $930,000

The
following transactions occurred during 2008:

February
3 Sold and issued 3,000 shares of common stock for $22 per share.
May
10 Declared a $0.50 per share dividend on common stock.
October
12 Sold 500 shares of the treasury stock for $20 per share.
December
31 Net income for the year was determined to be $75,000.

Based on the above information, prepare a statement of
stockholders’ equity for 2008. Use the form below. In addition, show the journal
entries for the above transactions.

Marble Corporation

Statement of Stockholders’ Equity
December 31, 2008

Common Stock Contributed Capital in Excess of Par Value,
Common

Retained Earnings

Treasury Stock

Total
Balance, December 31,
2007 $200,000 $250,000 $500,000 $(20,000) $930,000

Balance,
December 31, 2008