Eco Build Corporation reports the following components of stockholders' equity on January 1.
Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity
$400,000 60,000 338,000
During the year, the following transactions affected its stockholders' equity accounts.
January 2 Purchased 4,000 shares of its own stock at $23 cash per share.
January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record.
February 28 Paid the dividend declared on January 5.
July 6 Sold 2,000 of its treasury shares at $27 cash per share.
August 22 Sold 2,000 of its treasury shares at $19 cash per share.
September 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record.
October 28 Paid the dividend declared on September 5.
Journal entry worksheet
Purchased 4,000 shares of its own stock at $23 cash per share
Note: Enter debits before credits
Date Jan 02
Account Title Debit Credit Record entry Clear entry
January 2 Purchased 4,000 shares of its own stock at $23 cash per share
January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record.
February 28 Paid the dividend declared on January 5.
July 6 Sold 2,000 of its treasury shares at $27 cash per share.
August 22 Sold 2,000 of its treasury shares at $19 cash per share.
September 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record.
October 28 Paid the dividend declared on September 5.
