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i need full answer and veiwable Sanchez Company reports the following components of stockholders' equity on January 1 Common stock-$10 par value, 120,000 shares authorized,
i need full answer and veiwable
Sanchez Company reports the following components of stockholders' equity on January 1 Common stock-$10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $500,000 75,000 410,000 $985,000 During the year, the following transactions affected its stockholders' equity accounts. Jan. 2 Purchased 5,000 shares of its own stock at $23 cash per share. Jan. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. Feb. 28 Paid the dividend declared on January 5. July 6 Sold 1,900 of its treasury shares at $27 cash per share. Aug. 22 Sold 3,100 of its treasury shares at $20 cash per share. Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. Oct. 28 Paid the dividend declared on September 5. General Journal General Ledger Trial Balance Statement of Stockholders RE Equity Requirement Impact on Equity During the year, the following transactions affected its stockholders' equity accounts. Prepare the necessary journal entries. journal entry is required, select "No journal entry required" in the first input box, View transaction list View journal entry worksheet Credit No Date Jan 02 Debit 115,000 1 Account Title Treasury stock, Common Cash 115,000 44,000 N 2 Jan 05 Common dividend payable Step by Step Solution
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