(a) Prepare the general journal entries necessary to record these transactions. Identify each transaction by...
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Accounting
(a) Prepare the general journal entries necessary to record these transactions. Identify each transaction by the date, and if no entry is required, write No Entry.
(b) How many shares were outstanding as of December 31, 2021
1. On January 1, the company was formed, and was authorized to issue 125,000 shares of $3 par value common stock. 2. On January 2, 95,000 shares were issued for $18 per share. 3. On March 31, OldCo issued a 1:2 reverse stock split. 4. On April 15, OldCo issued and distributed a 4% stock dividend, when the shares were valued at $12 per share. 5. On June 30, OldCo declared a cash dividend of $0.30, payable to the shareholders of record on July 15, to be paid on July 25. 6. On August 2, the company purchases 935 shares of the common stock outstanding at $35 per share and retired the shares
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(a) Prepare the general journal entries necessary to record these transactions. Identify each transaction by the date, and if no entry is required, write No Entry.