Question: Make the journal entries to record Greg's Tunes declaration and payment of dividends during 2016. Dividends were declared on 1 July and paid on 1

Make the journal entries to record Greg's Tunes declaration and payment
  1. Make the journal entries to record Greg's Tunes declaration and payment of dividends during 2016. Dividends were declared on 1 July and paid on 1 August . (Record debits first, then credits. Explanations aren't required.) First, journalise the dividend declared on 1 July .
  2. How much cash did the issuing of shares bring in during 2016? The cash received from the issuing of shares is $25 000 $35 000 $1 200
  3. What amount did Greg's tunes pay to purchase any of its own shares during the year? Journalise any such purchase. (Record debits first, then credits. Explanations aren't required.) Journalise the shares buy-back transaction.

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