Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On January 1, 2016 PT Mega had 50,000 shares, $4 par value per share, During the year, the following transactions occured. April June July December
On January 1, 2016 PT Mega had 50,000 shares, $4 par value per share, During the year, the following transactions occured. April June July December December 1 Issued 9,000 additional shares of common stock for $11 per share. 15 Declared a cash dividend of $1,50 per share to stockholders of record on June 30 10 Paid the $1.50 cash dividend. 1 issued 4,000 additional shares of common stock for $12 per share, 15 Declared a cash dividend on outstanding shares of $1.60 per share to stockholders of record on December 31 Required: Record/journalize all transactions above
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started