Prepare journal entries to record the transactions, Financial Accounting

Assignment Help:

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.


Related Discussions:- Prepare journal entries to record the transactions

Construct the market value balance sheet, Construct the Market Value Balanc...

Construct the Market Value Balance Sheet XYZ, Inc., another company founded by Larry Davidson in 2005, is currently entirely equity financed. That means the company carries no

Business mathamatics, im doing compound interest my calculator doest have a...

im doing compound interest my calculator doest have anxy butyx cant do nothing with the ten being the power of .9

What is its ending retained earnings balance, Q. The following selected amo...

Q. The following selected amounts are available for Vizio Company. Retained earnings (beginning) $1,600 Net loss 300 Cash dividends declared 200 Stock dividends declared 200 What i

Estimate tax rate and pre tax balance, Refer to Note 12, Employee Benefit P...

Refer to Note 12, Employee Benefit Plans and Other Postretirement Benefits (pp. 86-91) from the Consolidated Financial Statements of Harley-Davidson (hereafter HOG) 2008 Annual Rep

Income statement, how should i treat items in the additional information

how should i treat items in the additional information

Accounting equation, Prove that accounting equation is satisfied in all the...

Prove that accounting equation is satisfied in all the following transactions of Mr.X 1.    Commenced business with cash - Rs.80,000                                    2.    Pu

Prepare an investment plan, Question: Mada Air Ltd is thinking of diver...

Question: Mada Air Ltd is thinking of diversifying its activities in order to cope with the financial crisis. After careful evaluation its research and development team has pro

What are allie''s stock basis, Monte and Allie each own 50% of Raider Corpo...

Monte and Allie each own 50% of Raider Corporation, an S corporation. Both individuals actively participate in Raider's business. On January 1, Monte and Allie have adjusted bases

Compute and list the budget - budgeting, When Lydia started her vending mac...

When Lydia started her vending machine business, she instituted flexible budgeting for the first few months of operations. Her first monthly budget numbers were these: Cost of g

Prepare traditional income statement, Scottsdale Fine Piano%u2019s purchase...

Scottsdale Fine Piano%u2019s purchases pianos from a well-known manufacturer and sells them through their retail store. The Baby Grand Pianos sell, on average, for $2,500 each. The

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd