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Question 1: XYZ Corp. has 150,000 shares of $5 stated value no-par common stock authorized and 30,000 shares were outstanding during 2005. The following transactions relate to cash dividends for the year ending December 31, 2005. How to do journal entries without explanations to record the following transactions
June 1 Declared a semiannual cash dividend of $2 per common share.
June 15 Compiled the list of individual shareholders of record
July 5 Paid the dividends declared on June 1.
Dec. 1 Declared a 2-1 stock split.
Dec. 7 Declared a cash dividend of $1 per common share to be paid on January 5.
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