On January 1, 20XX, Dolan Corporation had 60,000 shares of $1 par value common stock issued and

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On January 1, 20XX, Dolan Corporation had 60,000 shares of $1 par value common stock issued and outstanding.

During the year the following transactions occurred.

March 1 - issued 40,000 shares of common stock for $600,000.

June 1 - declared a cash dividend of $2.00 per share.

June 30 - paid the $2.00 cash dividend.

December 1 - Purchased 4,000 shares of common stock for treasury at $22 per share.

December 15 - declared a cash dividend of $2.25 per share.

Instructions: prepare the journal entries on above transactions.

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

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Posted Date: Jan 03, 2021 02:06 PM

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On January 1, 20XX, Dolan Corporation had 60,000 shares of $1 par value common stock issued and

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Intermediate Accounting

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