On January 1, 2019, Jonathan Corporation had 75,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred Mar. 1 Issued 50,000 shares, not previously issued, of common stock for $675,000 June 1 Declared a cash dividend of $1.00 per share to stockholders of record on June 15 June 30 Paid the $1.00 cash dividend July 1 Declared and issued a 10% stock dividendDec. 1 Purchased 6,000 shares of common stock for the treasury for $15 per share Dec 10 Sold 100 treasury stock at $ 16 per share Dec. 15 Declared a cash dividend on outstanding shares of $1.00 per share to stockholders of record on December 31 Instructions Prepare journal entries to record the above transactions.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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On January 1, 2019, Jonathan Corporation had 75,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred

Mar. 1 Issued 50,000 shares, not previously issued, of common stock for $675,000
June 1 Declared a cash dividend of $1.00 per share to stockholders of record on June 15
June 30 Paid the $1.00 cash dividend
July 1 Declared and issued a 10% stock dividendDec. 1 Purchased 6,000 shares of common stock for the treasury for $15 per share
Dec 10 Sold 100 treasury stock at $ 16 per share
Dec. 15 Declared a cash dividend on outstanding shares of $1.00 per share to stockholders of
record on December 31

Instructions
Prepare journal entries to record the above transactions. 

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