Question

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Exercise Ch.8 Student No.:
Name :
1. A company sold 40,000 additional shares of its $2 par value common stock at a
price of $10 per share during the year ended December 31, 2020. Please do the
entry of this stock issuing on the December 31, 2020.
2. A company declared $3,000 cash dividend on December 31, 2020 and paid the
cash dividend on May 1, 2021. Please do the entries on the declaration date and
payment date (December 31, 2020 and May 1, 2021).
3. Assume that during the year ended December 31, 2020, A company issued a 2
percent stock dividend on its $2 par value common stock when the market price
was $15 per share. Assume 240,000 shares previously issued (outstanding
shares is 240,000) .
A company purchased 1,000 shares of its own common stock at a total cost of
$12,000 during the year ended August 31, 2020. Please do the entry of this
transaction on August 31, 2020.