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Power Drive Corporation designs and produces a line of golf equipment and gold apparel. Power Drive has 100,000 shares if common stock outstanding as the
Power Drive Corporation designs and produces a line of golf equipment and gold apparel. Power Drive has 100,000 shares if common stock outstanding as the beginning of 2021. Power Drive has the following transactions affectinf stockholders' equity in 2021.
March May Power Drive Corporation designs and produces a line of golf equipment and golf apparel, Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021. 1 Issue 48,000 additional shares of 1 par valve common stock for $45 per share. 10 Purchases 4,300 shares of treasury stock for 548 per share. June 1 Declaren a canh dividend of 61.15 per bare to all stockholders of record on June 15. (Itint, Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Bolla 2.150 shares of treasury took purchased on May 10 for 55 per share. Required: Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Answer is not complete. No Dato General Journal Debit Credit 1 March 01, 2021 Cash Additional Paid-in Capital Common Stock 2 May 10, 2021 Treasury Stock Cash 3 June 01, 2021 Dividends Dividends Payable 4 July 01, 2021 Dividends Payable Cash > 5 October 21, 2021 Cash Treasury Stock Additional Paid-in Capital Step by Step Solution
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