one last one Print by. Katny ETtein ACCT101 #42351 M/W 6:00pm (Fall 2017):ACCT 1

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one last one

Print by. Katny ETtein ACCT101 #42351 M/W 6:00pm (Fall 2017):ACCT 101 #42351 M/W 6:00pm (Fall 2017) / Ch 11 Problems *Exercise 11-13 L.Your answer is partially correct. Try again. On January 1, Guillen Corporation had 92,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following occurred. Apr. 1 Issued 28,500 additional shares of common stock for $16 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. 1Issued 1,500 additional shares of common stock for $18 per share. 5 Declared a cash dividend on outstanding shares of $3.20 per share to stockholders of record on December 31. Prepare the entries, on each of the three dividend dates. (If no entry is required, select "No Entry" for the account titles and enter 0 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.) Date Account Titles and Explanation Debit Credit Dune 15 Cash Dividends 85500 ividends Payablel 185500 uly 10 Dividends Payable 370500 sh 37050 Dec. 15F ash Dividends! 200- 22200 Dividends Payablel 122200

Explanation / Answer

Jun-15 Cash dividends 363000 =(92500+28500)*3 Dividends payable 363000 Jul-10 Dividends payable 363000 Cash 363000 Dec-15 Cash dividends 392000 =(92500+28500+1500)*3.2 Dividends payable 392000

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