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Court Casuals has 100,000 shares of common stock outstanding as of the beginning of the year and has the following transactions affecting stockholders' equity during
Court Casuals has 100,000 shares of common stock outstanding as of the beginning of the year and has the following transactions affecting stockholders' equity during the year. Issues 25.000 additional shares of SI par value common stock for $40 per share. Repurchases 5,000 shares of treasury stock for $45 per share. Dcelares a cash dividend of $1 per shars to all stockholders of record on July 15. Hint: Dividends are not paid on treasury stock. Pays the cash dividend declared on July 1 Reissues 2.500 sharcs of treasury stock purchased on May 31 for $46 per share. May 18 May 31 July 1 July 31 August 10 Record each of these transactions. HTML Editor
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