how to make a Journal Entry

1 Corp X is authorized to issue 1,000,000 shares of Common Stock Par $1 No Entry since it was just authorized but not issued.

2 Corporation X issued 500,000 shares of Common Stock Par $1 for $ 8 per share

3 Corporation X issued 1,500,000 shares of Common Stock Par $1 for $10 per share

4 Corporation X reacquired 1,000,000 shares of their Common Stock Par $1 for $ 2

5 Sold 500,000 shares of treasury stock at $8 per share

6 Paid $ 2,000,000 in cash dividends to common stockholders that was declared last month

7 Net income for the year $ 800,000