Common Dividends

Pumpkin Accounting Corp. began the year with 1,000,000 authorized and 230,000 issued and outstanding $10 par common shares. During the year, Pumpkin entered into the following transactions:

1. Declared a $0.40 per-share cash dividend on March 10.
2. Paid the $0.40 per-share dividend on April 10.
3. Repurchased 8,000 common shares at a cost of $24 each on May 2.
4. Sold 3,000 unissued common shares for $26 per share on June 9.
5. Declared a $0.55 per-share cash dividend on August 10.
6. Paid the $0.55 per-share dividend on September 10.
7. Declared and paid a 10% stock dividend on October 15 when the market price of the common stock was $28 per share.
8. Declared a $0.60 per-share cash dividend on November 10.
9. Paid the $0.60 per-share dividend on December 10.

Required:

Question Content Area

1. 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.