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Common Dividends Papke Payroll Service began the year with 1 , 0 0 0 , 0 0 0 authorized and 2 2 6 , 0
Common Dividends
Papke Payroll Service began the year with authorized and issued and outstanding $ par common shares. During the year, Papke entered into the following transactions:
a Declared a $ pershare cash dividend on March
b Paid the $ pershare dividend on April
c Repurchased common shares at a cost of $ each on May
d Sold unissued common shares for $ per share on June
e Declared a $ pershare cash dividend on August
f Paid the $ pershare dividend on September
g Declared and paid a stock dividend on October when the market price of the common stock was $ per share.
h Declared a $ pershare cash dividend on November
i Paid the $ pershare dividend on December
Required:
Prepare journal entries for each of these transactions. If an amount box does not require an entry, leave it blank. Round your answers to the nearest dollar.
a Mar.
b Apr.
c May
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