Question 9

Vegan's Delight Foods Incorporated reported the following amounts of contributed capital in the shareholders' equity accounts as of January 1, 2022:

Contributed Capital:
Common shares, authorized 50,000 shares;
Issued outstanding 30,000 shares	$250,000

A	Cash	F	Treasury shares
B	Dividends payable	G	Contributed capital-treasury share transactions
C	Common shares	H	Dividends declared
D	Preferred shares	I	None of the above accounts (specify)
E	Retained earnings

Indicate the journal entry required to record each of the following transactions by entering the letter code corresponding to each account to be debited and credited and the amount of each debit and credit. The transactions are independent unless otherwise stated.

Transaction		Debits		Credits
		Code	Amount	Code	Amount
Ex.	Sold and issued 10 common shares for $50. Disregard in subsequent transaction.	A	50	C	50
1	Dec. 1, 2022 - The board of directors declared a $2 per share cash dividend payment which will be paid in 20X6
2	Dec. 1, 2022 - The board of directors declared (and issued) a 10% stock dividend. At the date of declaration market price per share was $1.
3	Dec. 2, 2022 - The corporation sold and issued 20,000 common shares and received $10 cash per share.
4	Dec. 28, 2022 - The corporation purchased 200 of its own shares at $10 per share.