Acorporation had stockholders' equity on January 1 as follows: Common Stock, $10 par value, 1,500,000 shares authorized, 600,000 shares issued; ACC113AH-Shaikh33901325 Paid-in Capital in Excess of Par Value, Common Stock, $1,000,000; Retained Earnings, $2,500,000. Prepare journal to record the following transactions: Feb. 15 The board of directors declares 10% dividend to stockholders of record on March1, to be issued on April 15. The stock was trading at 8$ per share prior to the dividend Mar.1 sold 100,000 shares of common stock for 11$ per share Mar.20 issued the stock dividend

Acorporation had stockholders' equity on January 1 as follows: Common Stock, $10 par value, 1,500,000 shares authorized, 600,000 shares issued; ACC113AH-Shaikh33901325 Paid-in Capital in Excess of Par Value, Common Stock, $1,000,000; Retained Earnings, $2,500,000. Prepare journal to record the following transactions: Feb. 15 The board of directors declares 10% dividend to stockholders of record on March1, to be issued on April 15. The stock was trading at 8$ per share prior to the dividend Mar.1 sold 100,000 shares of common stock for 11$ per share Mar.20 issued the stock dividend

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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