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01 02 Problem 16 CASH AND STOCK DIVIDENDS 03 4 journal entries 04 305 INSTRUCTIONS: Prepare the journal entries for the following transactions. 306 307 ABC Corp. has 2,000 shares of it common stock outstanding. 308 309 1-Oct Declared a $1.00 per share cash dividend on common stock. 310 15-Oct Date of record 311 1-Nov Paid the cash dividend to common stockholders. 312 313 1-Nov ABC Corp. declared a 10% stock dividend when the market price per share was $20. 314 The company had 2,000 shares of its $2 par value common stock outstanding, 315 376 15-Nov Date of record 317 318 1-Dec Stock dividend issued. 319 320 321 Problem 17 TREASURY STOCK 3 journal entries 322 323 324 325 INSTRUCTIONS: Prepare the journal entries for the following transactions. 326 327 1-Dec ABC Corp. purchased 100 shares of its common stock for $10 per share. 328 329 10-Dec 20 of the treasury shares were sold for $12 per share. 330 331 20-Dec 30 of the treasury shares were sold for $8 per share. 332 w Shoot Shoot Sheral