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Entries for Selected Corporate Transactions Morrow Enterprises Inc, manufactures bathroom foxtures. The stockholders equity accounts of Morrow Enterprises Inc, with balances on January 1, 20ys,
Entries for Selected Corporate Transactions Morrow Enterprises Inc, manufactures bathroom foxtures. The stockholders equity accounts of Morrow Enterprises Inc, with balances on January 1, 20ys, are as folfows: Ine rowowing selected transacbons occurred ounng the year: 2an. 22. Paid cash dividends of 50.15 oer share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $48,600. Apr. 10. Issued 70,000 shares of common stock for $18 per share. June 6. Sold all of the treasury stock for $612,000. July 5. Dectored a 4\% stock dividend on common stock, to be capitalized at the market price of the stock, which is $20 per share. Aug. 15, Issued the certificates for the dividend declared on July 5. Nov, 23. Purchased 23,000 shares of treasury stock for $437,000. Dec 28. Declared a s0:16-per-share dividend on common stock. 31. Closed the two dividends accounts to Retained Earnings: Required
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