Exercise 235 On January 1, 2020, Bramble Corp. had 85,000 shares of $1 par value...
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Exercise 235 On January 1, 2020, Bramble Corp. had 85,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Issued 99,000 shares of common stock for $660,000 Declared a cash dividend of $2.00 per share to stockholders of record on June 15 Paid the $2.00 cash dividend Purchased 8,000 shares of common stock for the treasury for $18 per share Declared a cash dividend on outstanding shares of $2.50 per share to stockholders of record on December 31 Mar. 1 June 1 June 30 Dec. 1 Dec. 15 Net income for 2020 amounted to $989,000. Prepare journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Date Click if you would like to Show Work for this question: Open Show Work
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