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On January 1, 2018 Delta Corporation had 100,000 ordinary shares issued and outstanding, the share have par value $ 4 per share, during the year
On January 1, 2018 Delta Corporation had 100,000 ordinary shares issued and outstanding, the share have par value $ 4 per share, during the year the following transactions occurred.
Instruction: Prepare the journal entries for following transactions:
April 1 issued 25,000 additional ordinary shares for $17 per share
June 15 declared cash dividend $1 per share
July 10 paid the cash dividend that declared on June 15
October 1 purchased 5,000 treasury shares for cash at $15 per share
December 1 sold 3,000 treasury shares for cash $20 per share
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