Part 2:

On January 1, 2018, Caldwell Corporation had 75,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred:

Mar. 1 Issued 45,000 shares of common stock for $675,000

June 1 Declared a cash dividend of $2.00 per share to stockholders of record on June 15

June 30 Paid the $2.00 cash dividend

Dec. 1 Purchased 4,000 shares of common stock for the treasury for $18 per share

Dec. 15 Declared a cash dividend on outstanding shares of $2.50 per share to stockholders of record on December 31

NOTE: Dividends are only declared and paid on the # shares OUTSTANDING. You need to keep a running total of the # shares outstanding so that your dividends on Dec 15^th are correct.

Required:

Prepare journal entries to record the above transactions. (15 points)

3/1/18	Account Name	Debit	Credit

6/1/18	Account Name	Debit	Credit

6/30/18	Account Name	Debit	Credit

12/1/18	Account Name	Debit	Credit

12/15/18	Account Name	Debit	Credit