A company issues 30 000 ordinary shares for cash on 30 April 2009 for $20 per share.
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A company issues 30 000 ordinary shares for cash on 30 April 2009 for $20 per share. On 30 November 2009, the company’s board of directors declared a dividend of $0.30 per share, which was paid on 15 December 2009.
Required: Record the journal entries for the issuance of the shares, assuming that each share had a $12 par value. Also record the journal entries for the issuance of the shares, and the declaration and payment of the dividend.
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