Nash's Trading Post, LLC is authorized to issue 1,000,000 shares of $1 par value common stock. During 2020, the company has the following stock transactions. Jan. 15 Sept. 5 Dec. 6 Journalize the transactions for Nash's Trading Post, LLC. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Jan. 15 Sept. 5 Issued 700,000 shares of stock at $5 per share. Purchased 20,000 shares of common stock for the treasury at $8 per share. Declared a $0.50 per share dividend to stockholders of record on December 20, payable January 3, 2021. Dec. 6 Account Titles and Explanation Cash Common Stock Paid-in Capital in Excess of Par Value-Common Stock Treasury Stock Cash Cash Dividends Dividends Payable Debit 160000 Credit 160000

Nash's Trading Post, LLC is authorized to issue 1,000,000 shares of $1 par value common stock. During 2020, the company has the following stock transactions. Jan. 15 Sept. 5 Dec. 6 Journalize the transactions for Nash's Trading Post, LLC. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Jan. 15 Sept. 5 Issued 700,000 shares of stock at $5 per share. Purchased 20,000 shares of common stock for the treasury at $8 per share. Declared a $0.50 per share dividend to stockholders of record on December 20, payable January 3, 2021. Dec. 6 Account Titles and Explanation Cash Common Stock Paid-in Capital in Excess of Par Value-Common Stock Treasury Stock Cash Cash Dividends Dividends Payable Debit 160000 Credit 160000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 9C: Situation You are the assistant accountant for Tyler Corporation. It is mid-January 2020 and you are...

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