Answer Happy

Court Casuals has 300,000 shares of common stock outstanding as of the beginning of the year and has the following transactions affecting stockholders' equity during the year. May 18 Issues 24,000 additional shares of $1 par value common stock for $44 per share. May 31 Purchases 5,000 shares of treasury stock for $44 per share. July 1 Declares a cash dividend of $1 per share to all stockholders of record on July 15. Hint: Dividends are not paid on treasury stock. July 31 Pays the cash dividend declared on July 1. August 10 Resells 2,800 shares of treasury stock purchased on May 31 for $46 per share. Record each of these transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 Note: Enter debits before credits. 4 Record the issuance of 24,000 additional shares of $1 par value common stock for $44 per share. Temnation 5 General Journal Dehit Credit

1 Record the issuance of 24,000 additional shares of $1 par value common stock for $44 per share. 2 Record the purchase of 5,000 shares of treasury stock for $44 per share. 3 Record the declaration of a cash dividend of $1 per share to all stockholders of record on July 15. Dividends are not paid on treasury stock. 4 5 Record the payment of the cash the cash dividend declared on July 1. Record the resale of 2,800 shares of treasury stock purchased on May 31 for $46 per share. = journal entry has been entered Note : Record entry Clear entry EX: ***** non Cre Miassen