1.

The declaration, record, and payment dates in connection with a cash dividend of $659,000 on a corporations common stock are October 1, November 7, and December 15.

Journalize the entries required on each date. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles.

Chart of Accounts

2.

On May 27, Hydro Clothing Inc. reacquired 23,900 shares of its common stock at $31 per share. On August 3, Hydro Clothing sold 14,000 of the reacquired shares at $40 per share. On November 14, Hydro Clothing sold the remaining shares at $29 per share.

Journalize the transactions of May 27, August 3, and November 14. Refer to the Chart of Accounts for exact wording of account titles.

3.

Using the following accounts and balances, prepare the Stockholders Equity section of the balance sheet. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries.

Two hundred fifty thousand shares of common stock are authorized, and 16,000 shares have been reacquired.

Common Stock, $55par	$10,725,000
Paid-In Capital from Sale of Treasury Stock	347,000
Paid-In Capital in Excess of ParCommon Stock	3,020,000
Retained Earnings	17,280,000
Treasury Stock	1,040,000

Prepare the Stockholders Equity section of the balance sheet. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign.