Nike, Inc., with headquarters in Beaverton, Oregon, is one of the world’s leading manufacturers of athletic shoes and sports apparel. The following activities occurred during a recent year. The amounts are rounded to millions.
a) Purchased additional buildings for $172 and equipment for $270; paid $432 in cash and signed a long-term note for the rest.
b) Issued 100 shares of $2 par value common stock for $345 cash.
c) Declared $145 in dividends to be paid in the following year.
d) Purchased additional short-term investments for $7,616 cash.
e) Several Nike investors sold their own stock to other investors on the stock exchange for $84.
f) Sold $4,313 in short-term investments for $4,313 cash.
Prepare journal entries for the above transactions