Problem 11-2 Prepare Journal Entries for all of the following transactions: On January 1, 20X8, Stacy Corporation began operations by selling 150,000 shares of $2 par value stock to the public for $5 per share. On June 30, they sold 50,000 more shares at $6 per share. On July 1, they declared a dividend of $.25 per share, payable on July 30 to shareholders of record on July 15. On July 30 they paid the dividend.
Problem 11-2 Prepare Journal Entries for all of the following transactions: On January 1, 20X8, Stacy Corporation began operations by selling 150,000 shares of $2 par value stock to the public for $5 per share. On June 30, they sold 50,000 more shares at $6 per share. On July 1, they declared a dividend of $.25 per share, payable on July 30 to shareholders of record on July 15. On July 30 they paid the dividend.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter20: Corporations: Organization And Capital Stock
Section: Chapter Questions
Problem 3CE: Prepare general journal entries for the following transactions of GOTE Company: (a) Received...
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![Problem 11-2
Prepare Journal Entries for all of the following transactions:
On January 1, 20X8, Stacy Corporation began operations by selling 150,000 shares of $2 par
value stock to the public for $5 per share. On June 30, they sold 50,000 more shares at $6 per
share. On July 1, they declared a dividend of $.25 per share, payable on July 30 to shareholders
of record on July 15. On July 30 they paid the dividend.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcee9adfe-de64-44eb-bbdc-a265450b54f8%2F6a6baf68-507f-4cbf-ad36-5bcdc93a7582%2Fqdz31j_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem 11-2
Prepare Journal Entries for all of the following transactions:
On January 1, 20X8, Stacy Corporation began operations by selling 150,000 shares of $2 par
value stock to the public for $5 per share. On June 30, they sold 50,000 more shares at $6 per
share. On July 1, they declared a dividend of $.25 per share, payable on July 30 to shareholders
of record on July 15. On July 30 they paid the dividend.
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