Date   Description DR CR 5-Jan   Cash   1,600,000


Date DescriptionDRCR
5-Jan Cash 1,600,000 
   Common Stock 1,250,000
   Paid in Capital in Excess of Par-Common Stock 350,000
1-Feb Cash 1,012,500 
   Preferred stock 937,500
   Paid in Capital in Excess of Par-Preferred stock 75,000
1-Jul Treasury stock185,000 
   Cash 185,000
15-Nov Cash Dividends37,500 
   Cash Dividends payable 37,500
29-Nov No entry required  
22-Nov Stock Dividends47,250 
   Stock Dividends Distributable 33,750
   Paid in Capital in Excess of Par-Common Stock 13,500
6-Dec No entry required  
15-Dec Cash Dividends Payable37,500 
   Cash 37,500
22-Dec Stock Dividends Distributable33,750 
   Common Stock 33,750
31-Dec Cash 97,500 
   Treasury stock 92,500
   Paid in Capital from sale of Treasury stock 5,000

Can you check all the journal entries correct? And plus close dividend account


It’s that simple.Pay only when you are satisfied.

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