1.) issues 48,000 additional shares of one dollar par value common stock for $45 per share2.) re-purchases 4300 shares of treasury stock for $48 per share3.) declares a cash dividend of $1.15 per share to all stockholders of record on June 15 (hint: dividends are not paid on treasury stock. )4.) pays the cash dividends declared on June 1.5.) re-issues 2150 shares of treasury stock purchased on May 10 for $53 per share d: Final Exam (Ch. 1- 11), 120 minutes ...Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of commonstock outstanding as of the beginning of 2018. Power Drive has the following transactions affecting stockholders' equity in 2018.March 1 Issues 48,000 additional shares of $1 par value common stock for $45 per share.May 10 Repurchases 4,300 shares of treasury stock for $48 per share.June 1 Declares a cash dividend of $1.15 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasurystock.)July 1 Pays the cash dividend declared on June 1.October 21 Reissues 2,150 shares of treasury stock purchased on May 10 for $53 per share.Required:Record each of these transactions. (If no entry is required for a particular transaction, select "No journal entry reguired" in the firstaccount field.)View transaction listJournal entry worksheet13Issues 48,000 additional shares of $1 par value common stock for $45 pershare.Note: Enter debits before credits.DateGeneral JournalDebitCreditMarch 01, 2018< Prev24 of 56Next>tv20.* ESF7F7FB%244.%23&358.9{QWYADFGH.JKCValtcommandcommandoption.. ..

Equity shares and preference shares are two types of shares issued by the company. The main purpose of shares is to raise capital or money. Dividends are a part or share of profits distributed to the shareholders. Treasury stock are those shares repurchased or reacquired by the company from its shareholders. Treasury stock shares do not receive dividends from the company.Shares can be issued at par value, more than the par value, or less than the par value. The value or amount received additionally on issue of shares is known as the additional paid in capital common stock. At the time of purchase of shares from shareholders, the treasury stock account is debited and the cash account is credited. If treasury stock is sold at a price greater than the repurchase price, then the amount will be credited to additional paid in capital treasury stock. The required journal entries are: