Equity Transactions

You are the accountant for Monopoly Corp. And you need to journalize the following 4 transactions. Use the provided journal template and then upload it using the BlackBoard link.

Transaction 1 Jan. 1, 2020: Monopoly Corp. issues 1,000 shares of common stock with a par value of $1.00 in exchange for $5.00 cash per share. Journalize the entry.

Transaction 2. Jan. 10, 2020: Monopoly Corp issues 5,000 shares of No-Par preferred stock for $10,000 cash.

Transaction 3 Jan. 20, 2020: Monopoly Corp Declares a cash dividend to the shareholders of the 1,000 shares of common stock issued in transaction 1. The dividend is $0.25 per share.

Transaction 4 February 1, 2020: Monopoly Corp. Pays the dividends declared in transaction 3.