Record the following transactions using the general journal: DateTransaction 2-JanIssued 10,000 shares of Common stock at par.

Question:

Record the following transactions using the general journal:

DateTransaction

2-JanIssued 10,000 shares of Common stock at par.

3-JanIssued 20,000 shares of Common stock at $15 per share.

4-JanEarned and received $500,000.

5-JanPaid the operating expenses $150,000.

6-JanIssued 1,000 shares of Preferred stock at par.

7-JanIssued 2,000 shares of Preferred stock at $52 per share.

8-JanDeclared the regular quarterly dividend of $1 per share cash dividend to be paid to preferred stockholders on 01/09.

9-JanPaid the preferred dividend.

10-JanDeclared a 10% stock dividend on common stock, market price is $22 per share, to be distributed on 01/11.

11-JanDistributed the stock dividend to shareholders of record.

12-JanCorcoran Corp. repurchases 5,000 shares of its' common stock for the treasury at a cost of $20 per share.

13-JanCorcoran Corp. reissued 3,000 treasury shares for $22 each.

14-JanCorcoran Corp. reissued 1,000 treasury shares at $18 per share.

15-JanDeclared the regular quarterly dividend of $1.00 per share dividend on common stock to be paid on 01/16. THINK!

16-JanPaid the common dividend.

31-JanClosed the books.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...