Business, 30.04.2021 23:20 photagraphykid

On January 1, 2022, The Eighties Shop has 100,000 shares of common stock outstanding. The Eighties Shop incurred the following transactions in 2022. March 1 Issues 53,000 additional shares of $1 par value common stock for $50 per share.
May 10 Purchases 4,800 shares of treasury stock for $53 per share.
June 1 Declares a cash dividend of $1.40 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.)
July 1 Pays the cash dividend declared on June 1.
October 21 Resells 2,400 shares of treasury stock purchased on May 10 for $58 per share.

Required:
Record each of these transactions.

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On January 1, 2022, The Eighties Shop has 100,000 shares of common stock outstanding. The Eighties S...

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