1. Record the issue of 1350000 authorized shares of $1 per value for $26 per share

2. Record the decleration of the cash dividends of $2.50 per share

3. Record the payment of the cash dividends of $2.50 per share

4. Record the repurchase of 270,000 shares for $31 per share

5. Record the re issue of 135,000 share for 37 per share

5. Houghton Company began business on January 1, 2015 by issuing all of ts 1,350.000 authorized shares of its Si par value common stock for $20 per share On June 30, Houghton declared a cash dividend of $2 50 per share to stockholders of record on July 31. Houghton paid the cash dividend on August 30 On November 1, Houghton reacquired 270,000 of its own shares of stock for $31 per share On December 22 Houghton resold 135,000 of these shares for $37 per share. all of the necessary journal entries to record the events described above (If no entry is required for a transactionievent, select "No Jounal Entry Required" in the first account field) Journal entry worksheet Record the issue of 1,350,000 authorized shares of $1 par value for $26 per share. befare creits Racord entry Clear antry b. Precare the stockngiders equity gection ef the baance sheet as of December 31. 2015 assumhing a the net income for the year vas 56 000.000 Stockholders Equity Balance Sheet as of 1201/2015 Total Shockholders Ecuity Type here to search