A corporation declared and issued a 10% stock dividend on October 1. The following information was available immediately prior to the dividend: Retained earnings Shares issued and outstanding Market value per share Par value per share $830,000 68,000 23 Save & Exit Submit Ultimate Sportswear has $280,000 of 7% noncumulative, nonparticipating, preferred stock outstanding. Ultimate Sportswear also has $680,000 of common stock outstanding. In the company's first year of operation, no dividends were paid. During the second year, the company paid cash dividends of $48,000. This dividend should be distributed as follows: On September 1, Ziegler Corporation had 58,000 shares of $5 par value common stock, and $174,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. The general journal entry to record this transaction is: Percy Corporation was formed on January 1. The corporate charter authorized 100,000 shares of $10 par value common stock. During the first month of operation, the corporation issued 330 shares to its attorneys in payment of a $5,300 charge for drawing up the articles of incorporation. The entry to record this transaction would include: Global Corporation had 60,000 shares of $20 par value common stock outstanding on July 1. Later that day the board of directors declared a 10% stock dividend when the market value of each share was $30. The entry to record the dividend declaration is Prior to June 30, a company has never had any treasury stock transactions. A company repurchased 100 shares of its $1 par common stock on June 30 for $40 per share. On July 20, it reissued 50 of these shares at $46 per share. On August 1, it reissued 20 of the shares at $38 per share. What is the journal entry necessary to record the repurchase of stock on June 302