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1/1 Owner invested $300,000 cash in exchange for 35,000 shares of $10 par value common stock in Celebrity Consultants, Inc. 1/31 Declared and paid cash dividend of $.10 per share to the shareholders of record on 1/31. I do not know whether or how I record 1/31 transaction in a general journal.

1/1 Owner invested $300,000 cash in exchange for 35,000 shares of $10 par value common stock in Celebrity Consultants, Inc. 1/31 Declared and paid cash dividend of $.10 per share to the shareholders of record on 1/31. I do not know whether or how I record 1/31 transaction in a general journal.

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 7EB: Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the...
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1/1 Owner invested $300,000 cash in exchange for 35,000 shares of $10 par value common stock in Celebrity Consultants, Inc.

1/31 Declared and paid cash dividend of $.10 per share to the shareholders of record on 1/31.

I do not know whether or how I record 1/31 transaction in a general journal.

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