The stockholders equity section of Hathaway Corporation s December 31, 2002, balance sheet is as follows:
|
Contributed capital: |
|
|
Preferred stock (5%, $25 par, 2,000 shares issued and outstanding) |
$ 50,000 |
|
Common stock ($30 par, 10,000 shares issued and outstanding) |
300,000 |
|
Paid in capital in excess of par, preferred stock |
10,000 |
|
Paid in capital in excess of par, common stock |
100,000 |
|
Total contributed capital. |
$460,000 |
|
Retained earnings. |
340,000 |
|
Total stockholders equity. |
$800,000 |
During 2003, Hathaway Corporation had the following transactions:
Feb. 1 Paid a cash dividend of $3 per share on common stock. The dividend was declared December 31, 2002.
Mar. 15 Declared and issued a 19% common stock dividend. The market price of the stock on this date was $40 per share.
June 1 Reacquired 3,000 shares of common stock at $35 per share.
Sept. 1 Reissued 500 shares of treasury stock at $40 per share.
Nov. 15 Reissued 500 shares of treasury stock at $32 per share.
Record the transactions.