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On January 1, 2010, Anderson Corporation had 60,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred:Mar. 1 Issued 30,000 shares of common stock for $300,000.June 1 Declared a cash dividend of $1.50 per share to stockholders of record on June 15.June 30 Paid the $1.50 cash dividend.Dec. 1 Purchased 5,000 shares of common stock for the treasury for $20 per share.Dec. 15 Declared a cash dividend on outstanding shares of $2 per share to stockholders of record on December 31.InstructionsPrepare journal entries to record the above transactions.
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On July 1, 2010, Spear Co. issued 1,000 of its 10%, $1,000 bonds at 99 plus accrued interest. The bonds are dated April 1, 2010 and mature on April 1, 2020. Interest is payable sem
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Don and Harvey began operations as a partnership on October 3, 2010. The company spent $60,500 on organization costs that year. How much can the company deduct in 2010 relating to
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