had someone else help me, but i dont understand the answers they got, and why the commas are like that... please help!
Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021. points March 1 Issues 52,800 additional shares of $1 par value common stock for $49 per share. May 10 Purchases 4,700 shares of treasury stock for $52 per share. June 1 Declares a cash dividend of $1.35 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Resells 2,350 shares of treasury stock purchased on May 10 for $57 per share. eBook Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Hint View transaction list Print Journal entry worksheet 3 4 5 References Record the issuance of 52,000 additional shares of $1 par value common stock for $49 per share. Note: Enter debits before credits. Date General Journal Debit Credit March 01, 2021 Date General Journal Debit Credit March 1, 2021 Cash 25,48,000 Common Stock 52,000 Additional paid-in-capital 24,96,000 (Being issue of 52,000 shares @ $49 per share) May 10, 2021 Treasury Stock 2,44,400 Cash 2,44,400 Being purchase of treasury stock) June 1, 2021 Retained Earnings 1,98,855 (147,300 shares*$1.35 per share) Dividend Payable 1,98,855 (147,300 shares *$1.35 per share) Being cash dividend @1.35 per share declared) July 1, 2021 Dividend Payable 1,98,855 Cash 1,98,855 Being cash dividend @1.35 per share paid) October 21, 2021 Cash 1,33,950 |(2,350 shares *$57 per share) Treasury Stock 1,22,200 2,350 shares $52 per share) Additional paid-in-capital 11,750 (2,350 shares *$55 per share) Being 2,350 treasury stock resold)