Question
Deck company formed on January 1, 2016 when it issued 300,000 shares of $3 par value common stock for %15 per share. The following additional
Deck company formed on January 1, 2016 when it issued 300,000 shares of $3 par value common stock for %15 per share. The following additional transactions occurred during 2017:
January 9
| Issued 30,000 shares of $100 par value, cumulative preferred stock At $105 per share |
February 15 | Reacquired 5,000 common shares for treasury at $20 per share |
Mar 20
| Declared the full cash dividend on the preferred stock and $.05 per share on the outstanding common shares |
April 4 | Paid the previously declared dividends |
April 21 | Sold 5,000 treasury shares at $25 per share |
June 16 | Declared and issued a 2% common stock dividend. The market value of stock was $13 per share |
November 11 | Reacquired 20,000 common shares for treasury at $11 per share |
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Prepare the general journal entries for all of the above transactions.
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