Question: XYZ corporation completed the transactions regarding its common stock which has a par value of $5 pershard. Journalize these transactions in General journal.
2/13/2011 XYZ directors declared a $2 per share cash dividend payable on March. 28 to stockholders on record.
XYZ's eligible common stock is 1,000,000 shares
3/28/2011 Paid the cash dividend declared 2/13/2011
6/10/2011 XYZ bought 5,000 of its common stock on the open market for 10.00 per share.
7/10/2011 Sold 1,500 of its treasury shares for $24 cash per share.
8/13/2011 Sold 3,500 of its treasury shares for $5 cash per share.
9/20/2011 sold 18,000 shares of common stock for $16 pershare.
10/9/2011 Declared a 10% small stock dividend on all issued and outstanding common stock. Market value of the stock is$17 cash per share