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Maple Forest Corporation designs and produces a line of golf equipment and golf apparel. Maple Forest has 100,000 shares of common stock outstanding as of
Maple Forest Corporation designs and produces a line of golf equipment and golf apparel. Maple Forest has 100,000 shares of common stock outstanding as of the beginning of 2024. Maple Forest has the following transactions affecting stockholders' equity in 2024. March 1 Issues 60,000 addittional shares of $1 par value comnon stock for $57 per share. May 10 Purehanen 5,500 shares of treasury btock for $60 per share. Jane 1 Deelares a cash dividend of $1.75 per share to all stockholders of record on June 15 . (Hint, Dividends are not paid on treasury stock.) July 1 Payn the cash dividend declared on June 1. Ootober 21 Rese11n 2,750 shares of treasury stock purchased on May 10 for $65 per sbare. 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.) Journal entry worksheet 2.4 Record the issuance of 60,000 additional shares of $1 par value common stock for $57 per share. Notei Enter debies bedore credita. 1 Record the issuance of 60,000 additional shares of $1 par value common stock for $57 per share. 2 Record the purchase of 5,500 shares of treasury stock for $60 per share. 3 Record the declaration of a cash dividend of $1.75 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) 4 Record payment of the cash dividend declared on dune 1. 5 Record the resale of 2,750 shares of treasury stock purchased on May 10 for $65 per share
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