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Assignment 1 0 Saved Help Save & Exit Sa Check my w Required information E11-9...

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Accounting

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Assignment 1 0 Saved Help Save & Exit Sa Check my w Required information E11-9 Recording and Reporting Stockholders' Equity Transactions, Including Closing Entry (LO 11-2, LO 11-3) (The following information applies to the questions displayed below.) The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity: a. Purchased $352,000 of common stock now held in treasury. b. Declared cash dividends in the amount of $261,000. C. Paid the dividends in (b). d. Issued 120,000 new shares of $0.10 par value common shares for $2 per share. e. Closed the Dividends account. E11-9 Part 2 2. Prepare journal entries to record each of these events. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Next > 1 2 of 6 B.. ( Prev Saved 1 Required information Part 1 of 2 Journal entry worksheet points Record the cash dividends declared in the amount of $261,000. eBook Hint Note: Enter debits before credits. Print References Event General Journal Debit Credit b. 261,000 Dividends Payable 261,000 Record entry Clear entry View general journal raw

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