1.) issues 48,000 additional shares of one dollar par value common stock for $45 per share2.) re-purchases 4300 shares of treasury stock for $48 per share3.) declares a cash dividend of $1.15 per share to all stockholders of record on June 15 (hint: dividends are not paid on treasury stock. )4.) pays the cash dividends declared on June 1.5.) re-issues 2150 shares of treasury stock purchased on May 10 for $53 per share d: Final Exam (Ch. 1- 11), 120 minutes ...Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of commonstock outstanding as of the beginning of 2018. Power Drive has the following transactions affecting stockholders' equity in 2018.March 1 Issues 48,000 additional shares of $1 par value common stock for $45 per share.May 10 Repurchases 4,300 shares of treasury stock for $48 per share.June 1 Declares a cash dividend of $1.15 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasurystock.)July 1 Pays the cash dividend declared on June 1.October 21 Reissues 2,150 shares of treasury stock purchased on May 10 for $53 per share.Required:Record each of these transactions. (If no entry is required for a particular transaction, select "No journal entry reguired" in the firstaccount field.)View transaction listJournal entry worksheet13Issues 48,000 additional shares of $1 par value common stock for $45 pershare.Note: Enter debits before credits.DateGeneral JournalDebitCreditMarch 01, 2018< Prev24 of 56Next>tv20.* ESF7F7FB%244.%23&358.9{QWYADFGH.JKCValtcommandcommandoption.. ..

Equity shares and preference shares are two types of shares issued by the company. The main purpose…

Answered: Power Drive Corporation designs and…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1.) issues 48,000 additional shares of one dollar par value common stock for $45 per share 2.) re-purchases 4300 shares of treasury stock for $48 per share 3.) declares a cash dividend of $1.15 per share to all stockholders of record on June 15 (hint: dividends are not paid on treasury stock. ) 4.) pays the cash dividends declared on June 1. 5.) re-issues 2150 shares of treasury stock purchased on May 10 for $53 per share

d: Final Exam (Ch. 1- 11), 120 minutes ...
Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common
stock outstanding as of the beginning of 2018. Power Drive has the following transactions affecting stockholders' equity in 2018.
March 1 Issues 48,000 additional shares of $1 par value common stock for $45 per share.
May 10 Repurchases 4,300 shares of treasury stock for $48 per share.
June 1 Declares a cash dividend of $1.15 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury
stock.)
July 1 Pays the cash dividend declared on June 1.
October 21 Reissues 2,150 shares of treasury stock purchased on May 10 for $53 per share.
Required:
Record each of these transactions. (If no entry is required for a particular transaction, select "No journal entry reguired" in the first
account field.)
View transaction list
Journal entry worksheet
1
3
Issues 48,000 additional shares of $1 par value common stock for $45 per
share.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
March 01, 2018
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