LCULATOR PRINTER VERSION BACK NEXT Exercise 11-6 On January 1, Marigold Corp. ha

Question

LCULATOR PRINTER VERSION BACK NEXT Exercise 11-6 On January 1, Marigold Corp. had 61,700 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following transactions occurred Apr. 1 Issued 12,600 additional shares of common stock for $12 per share. une 15 July 10 Paid the $1.50 cash dividend. Dec. 1 Issued 5,600 additional shares of common stock for $11 per share. Dec. 15 Declared a cash dividend of $1.50 per share to stockholders of record on June 30. Declared a cash dividend on outstanding shares of $1.70 per share to stockholders of record on December 31 (a) Prepare the entries, if any, on each of the three dates that involved dividends. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to O decimal places, e.g. 1,225.) Date Account Titles and Explanation Debit Credit

Explanation / Answer

Jun-15 Cash dividends 111450 =(61700+12600)*1.5        Dividends payable 111450 Jul-10 Dividends payable 111450        Cash 111450 Dec-15 Cash dividends 135830 =(61700+12600+5600)*1.7        Dividends payable 135830

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