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PROBLEM 111 (20%) The following transactions took place in 2018 for Dahmer Corp. Jan. 2 Issued 20,000 shares of S1 par value common stock for

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PROBLEM 111 (20%) The following transactions took place in 2018 for Dahmer Corp. Jan. 2 Issued 20,000 shares of S1 par value common stock for $60,000 Declared dividend of $4 per share on the outstanding shares of common stock to shareholders of record as of March 25. Assume that there were 50,000 shares of outstanding stock as of March 15. Paid dividends declared March 15. Mar. 15 Apr 1 July 1 Sept 1 Purchased 10,000 shares of its own stock at $11. Declared and issued a 10% stock dividend on the outstanding common stock. The fair market value of a common share of Dahmer Corp. was $15. REQUIRED: Prepare the necessary journal entries for the above dates

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