1. Assignment 1
E.15.6, Lindsey Hunter Co is authorized to issue 50,000 shares of $ 5 par value common stock. During 2003, Lindsey Hunter took part in the following selected transactions.
Issued 5,000 shares of stock at $ 45 per share, less cost costs related to the issuance of the stock totaling $ 7,000.
Issued 1,000 shares of stock for land appraised at $ 50,000. The stock was actively traded on a national stock exchange at approximately $ 46 per share on the date of issuance.
Purchased 500 shares of treasury stock at $ 43 per share. The treasury shares purchased were issued in 2000 at $ 40 per share.
Instructions
Prepare the journal entry to record item 1
Prepare the journal entry to record item 2
Prepare the journal entry to record item 3 using the cost method.

2. Assignment 2
E.15.14, The stockholders’ equity accounts of G.K Chesterton Company have the following balances on December 31, 2004.
Common stock, $ 10 par, 300,000 shares
issued and outstanding $ 3,000,000
Paid in capital in excess of par $ 1,200,000
Retained earnings $ 5,600,000
Shares G.K Chesterton Company stock are currently selling on the Midwest Stock Exchange at $ 37
Instructions
Prepare the appropriate journal entries for each of the following cases
a. A stock dividend of 5 % is declared and issued
b. A stock dividend of 100 % is declared and issued
c. A 2 for 1 stock split is declared and issued