On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock

Question:

On January 1, Guillen had 95,000 shares of no-par issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred.
Apr. 1 Issued 25,000 additional shares of for $17 per share.
June 15 Declared a cash of $1 per share to stockholders of record on June 30.
July 10 Paid the $1 cash 1 Issued 2,000 additional shares of for $19 per share.
15 Declared a cash on outstanding shares of $1.20 per share to stockholders of record on December 31.

Instructions
(a) Prepare the entries, if any, on each of the three dates.
(b) How are dividends and dividends payable reported in the prepared at December 31?

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