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On January 1,2020, the equity section of Seacosh Co. shows share capitalordinary ( $1 par...

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Accounting

On January 1,2020, the equity section of Seacosh Co. shows share capitalordinary ( $1 par
value) $500,000, share premium-ordinary $100,000; retained earnings $120,000. Prepare
the journal entries for each of the following transactions during the year. (30%)
Apr. 1 Issued 60,000 additional ordinary shares for $480,000.
June 15 Declared a cash dividend of $1 per share to shareholders of record on June 30.
July 10 Paid the cash dividends.
Sept. 1 Purchased 2,000 ordinary shares for $18,000.
Nov. 1 Sold 1,000 treasury shares for cash at $10.
Dec. 1 Sold 1,000 treasury shares for cash at $7.
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