Question
November 5 Issue an additional 100,000 shares of common stock for $10 per share. November 16 Purchase 10,000 shares of its own common stock (i.e.,
November 5 Issue an additional 100,000 shares of common stock for $10 per share. November 16 Purchase 10,000 shares of its own common stock (i.e., treasury stock) for $15 per share. November 24 Resell 4,000 shares of treasury stock at $16 per share. December 1 Declare a cash dividend on its common stock of $11,400 ($0.10 per share) to all stockholders of record on December 15. December 20 Pay the cash dividend declared on December 1. December 30 Pay $800,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account.
| November 5 | Issue an additional 100,000 shares of common stock for $10 per share. |
|---|---|
| November 16 | Purchase 10,000 shares of its own common stock (i.e., treasury stock) for $15 per share. |
| November 24 | Resell 4,000 shares of treasury stock at $16 per share. |
| December 1 | Declare a cash dividend on its common stock of $11,400 ($0.10 per share) to all stockholders of record on December 15. |
| December 20 | Pay the cash dividend declared on December 1. |
| December 30 | Pay $800,000 for construction of new cabins and other facilities. The entire expenditure is recorded in the Buildings account. |
Journal entrv worksheet IvULE. CIIleI uevils veIUIE hieuIls Step by Step Solution
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Contemporary Auditing Real Issues And Cases
Authors: Michael C. Knapp, Loreen Knapp
4th Edition
0324048610, 9780324048612
