At the beginning of this year your company issued stock. At the end of the year, your company declared a cash dividend. Provide the information about both of these events so that another student can record the journal entries.
I need help coming up with some events that meet the criteria below, along with the amounts for the events. Note that I have included some examples below. DO NOT USE THE SAME INFORMATION FROM THE EXAMPLES. THEY ARE ONLY INCLUDED FOR REFERENCE PURPOSES. my company is called ElectroTechnology Sales and Repair, so the events and amounts need to be centered around this type of business.
At the beginning of this year your company issued stock. At the end of the year, your company declared a cash dividend. Provide the information about both of these events so that another student can record the
Examples: ONCE AGAIN, DO NOT USE THESE SCENARIOS OR EXACT AMOUNTS. THIS IS FOR REFERENCE PURPOSES, ONLY.
1. On Jan 1, 2022, GM Investments issued 100,000 shares of common stock at par for cash at $11 per share. The Company declared $0.75 per share cash dividend on 100,000 shares of $20 per common stock share on December 31st.
2.
- On June 13, 2022, Best Buy issued 20,000 shares of $5 par value
preferred stock for cash at $30 per share. - On June 19, 2022, Best Buy declared a $0.95 per share cash dividend on 100,000 shares of $10 par value of preferred stock.
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