Exercise 11-6 Un January 1, Hint urpu\'auu\" had 02 y hares u n per com\'\"on st

Question

Exercise 11-6 Un January 1, Hint urpu'auu" had 02 y hares u n per com'"on stock sweu end outstandiny. Ihes ock has ststed value S4 p share. Uurimu u year, the ulwing usn5dwora uocurreo fuluwing usts Apr1 sued 19,c00 additional shares cf common stock for $13 per share June 15 Declared sh tlivide.nd $1.95 per share to stockholders urreurd 'n ).r30. uy i Paid tha $1.95 cash dvidend. Dec. 1 Isousd B,000 2ddtional :hares of common stock for $13 per share. Dec. 15 Declared D cash dividend on utstanding shares of $2.2 per share to stockholders of record on December 31. vidends ord journol ertries i o the prublem. Credit acou cally indented wfe s entered. Do for the avcount tiles and enter o for the amounts oid answers to o decimal places, e.g. ,225.) Date Account Titles and Explanation Question Attenspts: of 2 used

Explanation / Answer

Journal entries :

Date accounts & explanation debit credit June 15 Dividend a/c 157755 Dividend payable a/c (62900+18000)*1.95 157755 (TO record dividend declared) July 10 Dividend payable a/c 157755 Cash a/c 157755 (To record dividend paid) Dec 15 Dividend a/c (88900*2.25) 200025 Dividend payable a/c 200025 (TO record dividend declared)

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