The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity: a. Purchased $351,100 of common stock now held in treasury. b. Declared cash dividends in the amount of $260,550. c. Pald the dividends In (b). d. Issued 111,000 new shares of $0.10 par value common shares for $2 per share. e. Closed the Dividends account. repare Journal entries to record each of these events. (If no entry is required for a transaction/event, select "No ournal Entry Required" in the first account fleld.) View transaction list Journal entry worksheet < 1 2 3 4 5 Record the purchase of $351,100 common stock now held in treasury. Note: Enter debits before credits. Event General Journal Debit Credit

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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[The following information applies to the questions displayed below.]
The annual report for Malibu Beachwear reported the following transactions affecting stockholders'
equity:
a. Purchased $351,100 of common stock now held in treasury.
b. Declared cash dividends in the amount of $260,550.
c. Pald the dividends in (b).
d. Issued 111,000 new shares of $0.10 par value common shares for $2 per share.
e. Closed the Dividends account.
repare Journal entries to record each of these events. (If no entry is required for a transaction/event, select "No
ournal Entry Required" in the first account field.)
View transaction list
Journal entry worksheet
<
1 2 3 4 5
Record the purchase of $351,100 common stock now held in treasury.
Note: Enter debits before credits.
Event
a
Record entry
General Journal
Clear entry
Debit
Credit
View general journal
Transcribed Image Text:Required Information [The following information applies to the questions displayed below.] The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity: a. Purchased $351,100 of common stock now held in treasury. b. Declared cash dividends in the amount of $260,550. c. Pald the dividends in (b). d. Issued 111,000 new shares of $0.10 par value common shares for $2 per share. e. Closed the Dividends account. repare Journal entries to record each of these events. (If no entry is required for a transaction/event, select "No ournal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 Record the purchase of $351,100 common stock now held in treasury. Note: Enter debits before credits. Event a Record entry General Journal Clear entry Debit Credit View general journal
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