Apr. 1 June 15 July 10 Dec. 1 Dec. 15 Issued 22,230 additional shares of common

Question

Apr. 1 June 15 July 10 Dec. 1 Dec. 15 Issued 22,230 additional shares of common stock for $13 per share. Declared a cash dividend of $2.00 per share to stockholders of record on June 30. Paid the $2.00 cash dividend. Issued 6,280 additional shares of common stock for $12 per share. Declared a cash dividend on outstanding shares of $2.40 per share to stockholders of record on December 31. Prepare the entries, if any, on each of the three dates that involved dividends. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Explanation / Answer

June 15 Dividend Dr. 44460

To Dividend Payable 44460

July 10 Dividend Payable Dr 44460

To Cash 44460

Dec 15

Dividend Dr. 68424

To Dividend Payable 68424

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