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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 Hay June 1 Isses 63,000 additional shares of 51 par value common stock for 560 per share. 1 Declares a cash dividend of $1.50 per Share to all stockholders of record on June 15. Wines Dividends are not paid on treasury stock. 1 Pays the cash dividend declared on June 1. October 21 Resells 2,900 shares of treasury stock purchased on May 10 for $68 per share. July 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.) View transaction to Journal entry worksheet Record the issuance of 63,000 additional shares of Si par value common stock for $60 per share. Note: Enter detits before credits Cred Date Dalt General Journal March 01.2021 Record entry Clearani View transaction list Journal entry worksheet Record the purchase of 5,800 shares of treasury stock for $63 per share. Note: Enter debits before credits. Date General Journal Debit Credit May 10, 2021 Record entry Clear entry View general Journal View transaction list Journal entry worksheet 1 2 4 5 Record the declaration of a cash dividend of $1.90 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) Note: Enter debits before credits. Date General Journal Debit Credit June 01, 2021 View general Journal Clear entry Record entry the first account field.) Hit, berec NO Journal Er View transaction list Journal entry worksheet MacBook Pro View transaction list Journal entry worksheet
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