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Required information Problem 8-25 (Algo) Treasury stock transactions LO 6 (The following information applies to the questions displayed below.) On May 4, 2019, Docker Inc.
Required information Problem 8-25 (Algo) Treasury stock transactions LO 6 (The following information applies to the questions displayed below.) On May 4, 2019, Docker Inc. purchased 850 shares of its own common stock in the market at a price of $18.50 per share. On September 19, 2019, 450 of these shares were sold in the open market at a price of $20.80 per share. There were 35,000 shares of Docker common stock outstanding prior to the May 4 purchase of treasury stock. A $0.45 per share cash dividend on the common stock was declared and paid on June 15, 2019. Problem 8-25 (Algo) Part 2 - Journal Entry Prepare the journal entries to record each of the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. The purchase of the treasury stock on May 4, 2019. b. The declaration and payment of the cash dividend on June 15, 2019 (enter as a single entry rather than a compound entry). c. The sale of the treasury stock on September 19, 2019
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