Reference no: EM132616472
Question - The following equity information is available for Anne Corp. at January 1, 2020:
Common Stock, $1 par
100,000 shares authorized
50,000 shares outstanding
1,000 treasury shares
During 2020, the following equity transactions occurred:
A) June 1 - Anne Corp. issued 300 common shares at $7 per share.
B) Sept. 31 - Anne Corp. declared dividends of $.25 per share for all shareholders on record on Oct. 15 (hint: don't forget about the outstanding shares on January 1, 2018, in addition to the 300 shares sold on June 1).
C) Oct. 15 - Date of record for dividends declared on Sept 31.
D) Oct. 31 - Anne Corp. paid the amount of dividends owed from the Sept. 31 declaration.
Required - Record journal entries for each of these 2020 transactions. If no entry is required for a certain date, write "NO ENTRY."
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