Prepare journal entries to record the transactions

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Question: 1. Prepare the journal entry to record Typist Company's issuance of 250,000 shares of its common stock assuming the shares have a:

a. $1 par value and sell for $10 cash per share.

b. $1 stated value and sell for $10 cash per share.

2. Prepare journal entries to record the following transactions for Emerson Corporation. April 15 Declared a cash dividend payable to common stockholders of $40,000. May 15 Date of record is May 15 for the cash dividend declared on April 15. May 31 Paid the dividend declared on April 15.

Reference no: EM131534350

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