E11-9 Recording and Reporting Stockholders Equity Transactions, Including Closing Entry [LO 11-2, LO 11-3]

[The following information applies to the questions displayed below.]

The annual report for Malibu Beachwear reported the following transactions affecting stockholders equity:

a.	Purchased $351,700 of common stock now held in treasury.
b.	Declared cash dividends in the amount of $260,850.
c.	Paid the dividends in (b).
d.	Issued 117,000 new shares of $0.10 par value common shares for $2 per share.
e.	Closed the Dividends account.

10. value: 1.00 points E11-9 Part 2 2. Prepare journal entries to record each of these events. fno entry is required for a event, select "No Journal Entry Required" in the first account field) view transaction list view general journal Journal Entry Worksheet 1 2 3 4 5 Record the purchase of $351,700 common stock. Event Debit Credit General Journal Enter debits before credits done clear entry record entry Required information