Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need these 5 journal entries solved. 5 Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
I need these 5 journal entries solved.
5 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 10 pats March Issues 65,00 additional shares of $1 par Malue comon stock for $62 per share. May 20 Purchases 6,00 shares of treasury stock for $65 per share. June 1 Declares a cash dividend of $2.00 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 3,000 shares of treasury stock purchased on May 10 for $70 per share. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "Nd Journal Entry Required" in the first account field.) eBook View transaction list Journal entry worksheet References 2 3 4 5 Record the issuance of 65,000 additional shares of $1 par value common stock for $62 per share Enter debits before credits General Journal Debit Credit March 01, 2021 View general 5 March June 10 points 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 1 Issues 65,000 additional shares of $1 par valve common stock for 562 per share May 10 Purchases 6,000 shares of treasury stock for $65 per share. 1 Declares cash dividend of $2.00 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 3,000 shares of treasury stock purchased on May 10 for $70 per share. Required: Record each of these transactions (if no entry is required for a particular transaction/event, select "Nd Journal Entry Required" in the first account field.) ebook Print View transaction list Journal entry worksheet References Record the declaration of a cash dividend of $2.00 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) Note: Enter debits belore credits General Joumal Debit Credit Date June 01 2021 5 10 Doints 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 March 1. Issues 65,000 additional shares of $1 par value common stock for 562 per share. May 1e Purchases 6,000 shares of treasury stock for $65 per share. une 1 Declares a cash dividend of 52.00 per shore to all stockholders of record on June 15. (Hitr Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Resells 3,000 shares of treasury stack purchased on May 10 for $70 per share. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "Nd Journal Entry Required" in the first account field.) Book Print View transaction list Journal entry worksheet 1 2 3 5 Record payment of the cash dividend declared on June 1. Ho Enter debit before credits. General Journal Dubit Credit Date July 01, 2021 Client View.com.al 5 March Hay June 10 DO 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 1 Issues 65,00 additional shares of $1 par value common stock for $62 per share. 10 Purchases 6,000 shares of treasury stock for $65 per share. 1 Declares a cash dividend of $2.00 per Share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) 1 Pays the cash dividend declared on June 1. October 21 Resells 3,880 shares of treasury stock purchased on May 10 for $70 per share. Required: Record each of these transactions (if no entry is required for a particular transaction/event, select "Nd Journal Entry Required" in the first account field.) eBook Prim View transaction fist References Journal entry worksheet 1 2 3 4 Record the resale of 3,000 shares of treasury stock purchased on May 10 for $70 per share To: Enterdetits before credits General Journal Debil Credit October 21, 2021 Vim ournal

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting A Managerial Emphasis

Authors: Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan

15th edition

978-0133428858, 133428850, 133428702, 978-0133428704

More Books

Students also viewed these Accounting questions

Question

L03 Analyze theories that explain the possible functions of sleep.

Answered: 1 week ago

Question

Identify and explain the three forms of operations control.

Answered: 1 week ago

Question

Different formulas for mathematical core areas.

Answered: 1 week ago