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Question: Rocklin Corporation reports the following components of stockholders’ equity on December 31, 2009…
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Show transcribed image text Rocklin Corporation reports the following components of stockholders' equity on December 31, 2009. Prepare the journal entries: 1-Jan Purchase 4, 500 shares of its own stock at $25 cash per share 5-Jan Directors declare a $3 per share cash dividend payable on Feb 28 to the Feb 5 stockholders of record. 28-Feb Paid the dividend declared on January 5. 6-Jul Sold 1, 688 of it treasury shares at $29 cash per share. 22-Aug sold 2812 of its treasury shares a $22 cash per share. 5-sep Directors declare a $3 per share cash dividend payable on October 28 the September 25 stockholders of record. 28-Oct Paid the dividend declared on September 5. 31-Dec Closed the credit balance from net income) in the Income Summary account to Retained Earnings

Rocklin Corporation reports the following components of stockholders' equity on December 31, 2009. Prepare the journal entries: 1-Jan Purchase 4, 500 shares of its own stock at $25 cash per share 5-Jan Directors declare a $3 per share cash dividend payable on Feb 28 to the Feb 5 stockholders of record. 28-Feb Paid the dividend declared on January 5. 6-Jul Sold 1, 688 of it treasury shares at $29 cash per share. 22-Aug sold 2812 of its treasury shares a $22 cash per share. 5-sep Directors declare a $3 per share cash dividend payable on October 28 the September 25 stockholders of record. 28-Oct Paid the dividend declared on September 5. 31-Dec Closed the credit balance from net income) in the Income Summary account to Retained Earnings

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