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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 points March Issues 58,000 additional shares of 31 par value common stock for $55 pel share 10 Purchases 5,300 shares of treasury stock for $58 per share. June Declares a cash dividend of $1.65 per here 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 2,650 shares of treasury stock purchased on May 10 for 563 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.) Debit Credit No Date March 01, 2021 General Journal Cash Common Stock Additional Paid-in Capital points May 10, 2021_ Treasury Stock Cash 2021 01 Juro Dividends Dividends Payable 2021 |0 Dividends Payable Cash 5 October 21, 2021 Cash Treasury Stock Additional Paid-in Capital
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