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Make the journal entries for the five events

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Reference no: EM132955225

On January 1st 2022, Thor Construction Company had the following partial balance sheet:

Common stock 1,000,000 shares authorized $1 par $700,000

Additional paid in capital common stock $6,300,000

Retained Earnings $8,000,000

During 2023 Thor had the following transactions:

January 19th, Required 200,000 shares at $11 per share (these shares are to be retired)

March 31st, Required 100,000 shares at $17 per share (these shares are to be retired)

October 31st Sold 90,000 shares at $22 per share

December 15th Declared a $1 per share dividend

December 30th paid the dividend declared on December 15th

REQUIRED:

Problem 1: Make the journal entries for the 5 events in 2023.

Reference no: EM132955225

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