Journalize the stock transactions of Carman Company in 2015. On January 1, 2015,
ID: 2467049 • Letter: J
Question
Journalize the stock transactions of Carman Company in 2015. On January 1, 2015, Miranda company issued 10,000 shares of $0.25 par value common stock for $220,000. On May 19, 2015, the company purchased 2,000 shares of its own common stock for $17 per share. On July 16, 2015, 1,000 of the treasury shares are sold for $21 per share. On October 10, the board of directors of Carman Company declared and issued a 15% stock dividend On October 10, the company had 100,000 shares of $2 par common stock issued and outstanding with a market price of $10 per share. Journalize the entries needed for the stock dividend On December 30, the board of direction of Carman Company declared and issued , 40% stock dividend On December 30, the company had 100,000 shares of $2 par common stock issued and outstanding with a market price of $12 per share. Journalize the entries needed for the stock dividend.Explanation / Answer
Answer - 1
Answer - 2
Answer - 3
Answer - 4 15% Stock Dividend
Answer - 5 40% Stock Dividend(More than 25%)
Date Account Title & Explanation Debit Credit Jan 1 2015 Cash 220000 Common Stock: (10000*0.25) 2500 Additional Paid in Capital 217500Related Questions
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