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Delilah Corporation reports the following transactions for 2013:
Jan. 11 Sold 6,000 shares of $3.50, noncumulative, preferred shares for $75 per share.
Feb. 20 Sold 30,000 common shares for $11 per share.
Oct. 13 Declared a 10% stock dividend on the common shares. The current market price of the common shares is $14 per share. Sampson Corporation has 100,000 common shares outstanding on October 13.
Nov. 16 Distributed the stock dividend declared on October 13.
Dec. 16 Declared the annual dividend required on the preferred shares and a $0.50 per share dividend on the common shares. Sampson Corporation currently has 20,000 preferred shares outstanding.
Question 1: Prepare journal entries for the above transactions.
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