The par value on the common stock is $2 per share.

Treasury Stock arises from the reacquisition of 500 shares at a cost of $8 per share.

OPC declares a $0.50 cash dividend on each share of common stock on 1/04, to be paid on 1/10. Record the transaction. Note: Enter debits before credits. [The following information applies to the questions displayed below.] One Product Corporation (OPC) incorporated at the beginning of last year. The balances on its post-closing trial balance prepared on December 31 , at the end of its first year of operations, were: The following information is relevant to the first month of operations in the following year