Question
Equity Transactions Tritch Technology began its operations in January of 20Y4. The transactions below occurred during its first year of operations. REQUIREMENT : Record the
Equity Transactions
Tritch Technology began its operations in January of 20Y4. The transactions below occurred during its first year of operations.
REQUIREMENT: Record the general journal entry needed for each transaction. Debit entries need to be listed first. Please do not indent credit entries. Dollar values need to be entered with no dollar sign and appropriate commas (e.g. 5,000). If no account title is needed in a blank, put "Blank" in the space provided.
Example: Borrowed $5,000 from a bank.
Account Title | Debit | Credit |
Cash | 5,000 | 0 |
Notes Payable | 0 | 5,000 |
Blank | 0 | 0 |
1. On January 10, Tritch issued 20,000 shares of $10 par value common stock for $22 per share.
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2. On March 15, Tritch issued 1,000 shares of $15 par value, 5% preferred stock for $15 per share.
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3. on October 20, Tritch repurchased 4,000 shares of its own common stock from the market for $24 per share.
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4. Tritch declared the annual preferred stock dividend on December 15. The dividend will be paid to shareholders in the following year.
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5. Tritch declared a $.50 per share cash dividend to common stockholders on December 20. The dividend will be paid to shareholders in the following year.
Account Title | Debit | Credit |
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