US Weygandt, Accounting Principles, 12e PRIN OF ACCOUNTING (BTA 111/112) ES Ques

Question

US Weygandt, Accounting Principles, 12e PRIN OF ACCOUNTING (BTA 111/112) ES Question 12 Apr. 1 Issued 21,500 additional shares of common stock for $18 per share. June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30 July 10 Paid the $3 cash dividend. Dec. 1 Issued 1,000 additional shares of common stock for $19 per share. 15 Declared a cash dividend on outstanding shares of $1.90 per share to stockholders of record on December 31 the entries to record these transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit ip

Explanation / Answer

Date Account Debit credit Apr1 cash [21500*18] 387000 common stock [21500*5] 107500 paid in capital in excess of stated value 279500 June 15 cash dividend 334500 cash Dividend payable 334500 [beind dividend declared (90000+21500)*3] July 10 cash dividend payable 334500 cash 334500 dec 1 cash [1000*19] 19000 common stock [1000*5] 5000 paid in capital in excess of stated value 14000 dec 1 5 cash dividend 213750 cash dividend payable 213750 [being cash dividend declared (90000+21500+1000)*1.9]

Related Questions

Navigate

• Browse (All)
• Browse U
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.