Sylmar Corporation has 30,000 shares of $100 stated value no-par common stock authorized,and 20,000 shares were outstanding during 2009.The following transactions relate to cash dividends of Sylmar Corporation for the year ended December 31,2009.Prepare entries in journal form without explanations to record the following transactions:
Definitions:
Current Price
The present value or selling price of an asset, security, or commodity available in the marketplace.
Put Option
A financial contract that gives the holder the right, but not the obligation, to sell a specified amount of an underlying asset at a set price within a specified time.
Strike Price
The predetermined price at which the buyer of a call option can purchase the underlying asset, or the buyer of a put option can sell the underlying asset.
Pre-Tax Net Profit
The amount of revenue left after deducting all operational, interest, and depreciation expenses, but before paying income taxes.
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