Question: Lightning Fast Computer Company recently starts operations and had the following transactions related to common stock. Make journal entries for every transaction.
[A] 16,000 shares of $2 par value common stock were sold at a price of $25 a share.
[B] 1,600 shares of common stock were reacquired by the issuing firm at $45 per share.
[C] A dividend of $6 per share was declared and paid.
[D] A 10% stock dividend was announced & distributed when the market price per share was $40.