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A company has 20,000 shares of $12 par common stock outstanding

A company has 20,000 shares of $12 par common stock outstanding. Present entries to record the following:

a.      Purchased 3,000 shares of treasury stock at $13. The treasury stock is accounted for by the cost method.

b.     Declared a 1% per share stock dividend. The market price per share at time of declaration was$30.

c.      Sold 1500 shares of treasury stock at$15.

d.     Issued the stock from (b)above.

e.      Purchased equipment for $75,000, paying$25,000 in cash and issuing 4,000 shares of common stock for theequipment.

f.      Sold 500 shares of treasury stock at$11.

g.     Declared a $1 cash dividend.

Apr 17 2018 View more View Less

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