Question bennett corporation is authorized to issue 1000000

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Reference no: EM13350087

Question :

Bennett Corporation is authorized to issue 1,000,000 shares of $1 par value general stock in 2012. Starting in that year, the company has the subsequent stock transactions.

Jan. 15 Issued 500,000 shares of stock at $7 per share.

Sept. 5 Purchased 20,000 shares of common stock for the treasury at $8 per share.

Dec. 6 Declared a $0.50 per share dividend to stockholders of record on December 20, payable January 3, 2013.

Jan. 3 Paid the dividend

April 2 Sold 10,000 of the treasury stock shares for $9 per share

April 15 Sold 5,000 of the treasury stock shares for $7 per share

July 1 Issued 20,000 shares of common stock for $8.50 per share

Sept. 1 Purchased 4,000 shares issued on July 1 for the treasury at $15 per share

Record each of the transactions for Bennett Corporation in a journal.

Reference no: EM13350087

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