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Chapter 10 problem 2 On January 1,2024, It Is Finished Corporation had 75,000...

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Accounting

Chapter 10 problem 2
On January 1,2024, It Is Finished Corporation had 75,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred:
Mar. 1 Issued 25,000 shares of common stock for $16 per share.
June 1 Declared a cash dividend of $1.50 per share to stockholders of record on June 15.
June 30, Paid the $1.50 cash dividend.
Dec. 1 Purchased 10,000 shares of common stock for the treasury for $25 per share.
Dec. 15 Declared a cash dividend on outstanding shares of $3.00 per share to stockholders of record on December 31.
Instructions
Prepare journal entries to record the above transactions.
\table[[Date,A,L,SE,R,E,NI,CF,Account,DR,],[,,,,,,,,,,]]
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