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Please Solve Question 4 & 5. Thank you. rive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive shares of
Please Solve Question 4 & 5.
Thank you.
rive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive shares of common stock outstanding as of the beginning of 2018. Power Drive has the following transactions affecting sockholders' equity in 201S March 1 Issues 65,000 additional shares of S1 par value common stock for $62 per share. May 10 Repurchases 6,000 shares of treasury stock for $65 per share. June 1 Declares a cash dividend of $2.00 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) Pays the cash dividend declared on June 1. Reissues 3,000 shares of treasury stock purchased on May 10 for $70 per share. July October 21 Required: Record each of these transactions. Debit Credit Date General JournalStep by Step Solution
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