On January 1, 20XX, Dolan Corporation had 60,000 shares of $1 par value common stock issued and outstanding. During the year the following transactions occurred.
On January 1, 20XX, Dolan Corporation had 60,000 shares of $1 par value common stock issued and outstanding.
During the year the following transactions occurred.
March 1 - issued 40,000 shares of common stock for $600,000.
June 1 - declared a cash dividend of $2.00 per share.
June 30 - paid the $2.00 cash dividend.
December 1 - Purchased 4,000 shares of common stock for treasury at $22 per share.
December 15 - declared a cash dividend of $2.25 per share.
Instructions: prepare the journal entries on above transactions.
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Authors: kieso, weygandt and warfield.
14th Edition
9780470587232, 470587288, 470587237, 978-0470587287
