10-4
Exercise 10-12 (Algo) Record common stock, treasury stock, and cash dividends (LO10-2, 10-4, 10-5) Taking Flight Corporation designs and produces a line of golf equipment and golf apparel. Taking Flight has 100,000 shares of common stock outstanding as of the beginning of 2024 . Taking Flight has the following transactions affecting stockholders' equity in 2024. Mareh 1 Iwsues 61,000 additional shares of $1 par value common stock for $58 per Bhare. May 10 Parchases 5,600 bhares of treasury stock tor \$61 per share. July 2 not paid on treasury stoek.) Oetober 21 Resells 2,800 shares of treasury atoek purobased on May 10 for $66 per bhare. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field,) Journal entry worksheet 5 Record the issuance of 61,000 additional shares of $1 par value common stock for $58 per share. Note: Enter debits before credits. Exercise 10-12 (Algo) Record common stock, treasury stock, and cash dividends (LO10-2, 10-4, 10-5) Taking Flight Corporation designs and produces a line of golf equipment and golf apparel. Taking Flight has 100,000 shares of common stock outstanding as of the beginning of 2024 . Taking Flight has the following transactions affecting stockholders' equity in 2024. Nareh 1 Issues 61,000 additional shares of $1 par value cotmon atoek for $59 per share. May 10 Rurehanes 5,600 nhares of treasury stock for $61 per phare. June 1 Deelares a cash dividend of $1. 30 per share to al1 stoekholders: of record on June 15 . (Hint Dividend are not paid on treasury stock.) July 1 Pays the eash dividend deelared on June 1. October 21 heselle 2, 800 - sharea of treasury Btock purchased on May 10 for $66 per share. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the purchase of 5,600 shares of treasury stock for $61 per share. Note: Enter debits before credits. Exercise 10-12 (Algo) Record common stock, treasury stock, and cash dividends (LO10-2, 10-4, 10-5) Taking Fight Corporation designs and produces a line of golf equipment and golf apparel. Taking Flight has 100,000 shares of common stock outstanding as of the beginning of 2024. Taking Flight has the following transactions affecting stockholders' equity in 2024 Mareh 1 Issues 61,000 additional ihares of $1 par value common stock for $58 per share. Nay 10 Purchases 5,600 shares of treasury stock for \$61 per share. Jaly 1 not paid on treasury stoek.) October 21 Resel1 2,800 shares of treasury ntock purehased on Hay 10 for $66 per mhare. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Noter Enter debits before credits. Exercise 10-12 (Algo) Record common stock, treasury stock, and cash dividends (LO10-2, 10-4, 10-5) Taking Flight Corporation designs and produces a line of golf equipment and golf apparel. Taking Flight has 100,000 shares of common stock outstanding as of the beginning of 2024 . Taking Flight has the following transactions affecting stockholders' equity in 2024. Mareh 1 feluen 61,000 additional shares of $1 par value common itock for $58 per share. May 10 Purehases 5,600 sharen of treasury stock for $61 per sharet. not paid on treasury atoek.) July:1 Paym the eash dividend declated on June 1. Detober 21 Reselle 2, Ro0 kbares of treasury stock purchased on May 10 for $65 per ithare. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record payment of the cash dividend deciared on June 1. Wote: Fiter debis before credits. Exercise 10-12 (Algo) Record common stock, treasury stock, and cash dividends (LO10-2, 10-4, 10-5) Taking Flight Corporation designs and produces a line of golf equipment and golf apparel. Taking Flight has 100,000 shares of common stock outstanding as of the beginning of 2024 . Taking Flight has the following transactions affecting stockholders' equity in 2024. Karch 1 Kay 10 June: 1 Jaly 1 Jaty 1 Pays the eash dividend declared on June 1. october 21 Resells 2,800 shares of treasury stock purchased on May 10 for $66 per share. Reuired: Record each of these transactions, (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Note: Enter debits before credita
