Question

On December 20, 2018, A company had the following shares outstanding: Preferred stock (6%, $30 par)...

On December 20, 2018, A company had the following shares outstanding:
Preferred stock (6%, $30 par) 1,000,000 shares
Common stock ($2 par) 10,000,000 shares

Journalize the following transactions and events from 2019:

(a) January 10: the company purchased 500,000 shares of its common stock at a market price $24 per share.

(b) March 4: the company declares a dividend on preferred stock of $3.00 per share. The record date is March 8th and the date of payment is April 1st.

(c) March 4: the company declares a cash dividend on the common stock of $0.18 per share. The record date March 8th and the payment is April 1st.

(d) June 20: the company sells 10,000 shares of treasury stock. The sale price is $10 per share.

(e) September 1: the company declares a 10% common stock dividend when the market price is $21 per share. The record date is September 15, the common stock is issued October 1.

(f) December 15: the company sells 100,000 shares of treasury stock. The sale price is $33 per share.

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