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 March 1 Issues 54,000 additional shares of $1 par value common stock for $51 per share May 10 Purchases 4,900 shares of treasury stock for $54 per share June 1 Declares a cash dividend of $1 45 per share to all stockholders of record on June 15 ( Hint Dividends are not paid on treasury stock ) July 1 Pays the cash dividend declared on June 1 October 21 Resells 2,450 shares of treasury stock purchased on May 10 for $59 per share Question Record the issuance of 54,000 additional shares of $1 par value common stock for $51 per share Record the purchase of 4,900 shares of treasury stock for $54 per share Record the declaration of a cash dividend of $1 45 per share to all stockholders of record on June 15 (Hint Dividends are not paid on treasury stock ) Record payment of the cash dividend declared on June 1 Record the resale of 2,450 shares of treasury stock purchased on May 10 for $59 per share

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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

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.

March	1	Issues 54,000 additional shares of $1 par value common stock for $51 per share.
May	10	Purchases 4,900 shares of treasury stock for $54 per share.
June	1	Declares a cash dividend of $1.45 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.)
July	1	Pays the cash dividend declared on June 1.
October	21	Resells 2,450 shares of treasury stock purchased on May 10 for $59 per share. Question: Record the issuance of 54,000 additional shares of $1 par value common stock for $51 per share. Record the purchase of 4,900 shares of treasury stock for $54 per share. Record the declaration of a cash dividend of $1.45 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) Record payment of the cash dividend declared on June 1. Record the resale of 2,450 shares of treasury stock purchased on May 10 for $59 per share.