Survivor Company was formed on January 1, 2010 by selling and issuing 20,000 shares of common stock at $ 15 per share On December 1, 2011, the company declared a cash dividend of $ 10,000 which will be paid in cash on January 15, 2012 the annual accounting period ends December 31 a Give the journal...

a 1 January 1 2010 Cash Debit 3000000 Common Stock ...

Survivor Company was formed on January 1, 2010 by selling and issuing 20,000 shares of common stock

Question:

Survivor Company was formed on January 1, 2010 by selling and issuing 20,000 shares of at $ 15 per share. On December 1, 2011, the company declared a cash of $ 10,000 which will be paid in cash on January 15, 2012. the annual accounting period ends December 31.
a. Give the journal entry to record the sale and issuance of on January 1,2010 for each of the following independent assumptions:
1. The has $ 10 per share
2. The has a stated value of $ 5 per share with no
3. The has no par and no stated value
b. Give the journal entry to record the declaration on 12/01/2011
c. Give the journal entry to record the payment of the on 01/15/2012
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... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...