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Record the journal entries associated with the events

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Reference no: EM132531245

Marino Furniture Corporation (MFC) had the following events during the year:

a. January 1, 2018 - MFC is authorized to issue 100,000 common shares.

b. January 15, 2018 - 9,900 common shares are issued for $5.00 / share.

c. March 10, 2018 - 4,950 common shares are issued for $6.80 / share.

d. June 10, 2018 - Reacquired 5,700 common shares at a price of $5.30 / share.

e. July 16, 2018 - Declared and paid a 30 cents per share dividend on shares outstanding

Question 1: Record the journal entries associated with the above events.

Reference no: EM132531245

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