Journalize the following entries

Feb 23rd, 2015
Business Finance
Price: $5 USD

Question description

On January 1, Steff Corporation had 80,000 shares of no-par common stock issued. 5,000 shares are held as treasury stock. The stock has a stated value of $5 per share. During the year, the following transactions occurred.   

  Apr.  1  Issued 12,000 additional shares of common stock for $18 per share. 

  June  15  Declared a cash dividend of $1 per share to stockholders of record on June 30. 

  July  10  Paid the $1 cash dividend. 

  Dec.  1  Purchased 7,000 additional shares of common stock for $17 per share. 

  Dec.  15  Declared a cash dividend on outstanding shares of $1.20 per share to        shareholders of record on December 31. 

Instructions:   Prepare the entries, if any, on each of the dividend dates.

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(Top Tutor) Santheesh S
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