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Entries for Treasury Stock On May 27, Kick Off Inc. reacquired 76,000 shares of its common stock at $8 per share. On August 3, Kick
Entries for Treasury Stock On May 27, Kick Off Inc. reacquired 76,000 shares of its common stock at $8 per share. On August 3, Kick Off sold 51,000 of the reacquired shares at $11 per share. On November 14, Kick Off sold the remaining shares at $6 per share. Journalize the transactions of May 27, August 3, and November 14. If an amount box does not require an entry, leave it blank. May 27 Aug. 3 In Nov. 14 Entries for Stock Dividends Madrid Corporation has 33,000 shares of $80 par common stock outstanding. On August 2, Madrid Corporation declared a 3% stock dividend to be issued October 8 to stockholders of record on September 15. The market price of the stock was $99 per share on August 2. Journalize the entries required on August 2, September 15, and October 8. If an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" and leave the amount boxes blank. Aug. 2 Sept. 15 W III II II II Oct. 8 Entries for Cash Dividends The declaration, record, and payment dates in connection with a cash dividend of $33,000 on a corporation's common stock are October 1, November 7, and December 15. Journalize the entries required on each date. If no entry is required, choose "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. Oct. 1 Nov. 7 Dec. 15
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