| Houghton Company began business on January 1, 2015 by issuing all of its 1,150,000 authorized shares of its $1 par value common stock for $22 per share. On June 30, Houghton declared a cash dividend of $1.50 per share to stockholders of record on July 31. Houghton paid the cash dividend on August 30. On November 1, Houghton reacquired 230,000 of its own shares of stock for $27 per share. On December 22, Houghton resold 115,000 of these shares for $33 per share. |
Required:
| a. | Prepare all of the necessary journal entries to record the events described above. (If no entry is required for a transaction/event, select “No Journal Entry Required” in the first accou |
