Homework answers / question archive /  Journalize the following selected transactions completed during the current fiscal year: (worth 35 points) If no entry is made write "No entry" Jan 3 The Board of Directors issued 10,000 shares of common stock at $21 a share receiving cash

 Journalize the following selected transactions completed during the current fiscal year: (worth 35 points) If no entry is made write "No entry" Jan 3 The Board of Directors issued 10,000 shares of common stock at $21 a share receiving cash

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 Journalize the following selected transactions completed during the current fiscal year: (worth 35 points) If no entry is made write "No entry" Jan 3 The Board of Directors issued 10,000 shares of common stock at $21 a share receiving cash. The common stock has a par value of $20 a share Jan 15 The Board of Directors-issued 5,000 shares of 2% preferred stock at $90 a share. The preferred stock has a par value of $75 a share Jan 30 Feb. 8 Declared a dividend of $1.75 per share on the outstanding shares of common stock. Jan 22 There are 400,000 shares of common stock outstanding Record date Paid the dividend declared on January 22. Sept. 1 Declared a 5% stock dividend on the common stock outstanding (the fair market value of the stock to be issued is $30). There are 400.000 common stock shares outstanding at S20 par Oct. 1 Issued the certificates for the common stock dividend declared on September I. 7 of 11 Ome Description Debit Credit