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Court Casuals has 2 0 0 , 0 0 0 shares of common stock outstanding as of the beginning of the year and has the
Court Casuals has shares of common stock outstanding as of the beginning of the year and has the following transactions affecting stockholders' equity during the year:
May Issues additional shares of $ par value common stock for $ per share.
May Purchases shares of treasury stock for $ per share.
July Declares a cash dividend of $ per share to all stockholders of record on July Hint: Dividends are not paid on treasury stock.
July Pays the cash dividend declared on July
August Resells shares of treasury stock purchased on May for $ per share.
Required:
Record each of these transactions. If no entry is required for a particular transactionevent select No Journal Entry Required" in the first account field.
Journal entry worksheet
Record the resale of shares of treasury stock purchased on May for $ per share.
Note: Enter debits before credits.
tableTransactionGeneral Journal,Debit,CreditAugust
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