On january 1 2010 anderson corporation had 60000 shares of

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Reference no: EM13481455

On January 1, 2010, Anderson Corporation had 60,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred:

Mar. 1 Issued 30,000 shares of common stock for $300,000.

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 5,000 shares of common stock for the treasury for $20 per share.

Dec. 15 Declared a cash dividend on outstanding shares of $2 per share to stockholders of record on December 31.

Instructions

Prepare journal entries to record the above transactions. Use the template below.

Date	Account	Debit	Credit

Reference no: EM13481455

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