As of January 1, Swifty Corporation had 63,100 shares of common stock with no par value issued
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Question:
As of January 1, Swifty Corporation had 63,100 shares of common stock with no par value issued and outstanding. The stock has a declared value of $4 per share. The following transactions took place during the year.
April 1st | Issued an additional 18,900 shares of common stock at $12 per share. | |
June, 15 | Declared a cash dividend of $1.90 per share to shareholders of record on June 30. | |
July 10th | He paid the cash dividend of $1.90. | |
December 1st | Issued an additional 8,400 shares of common stock at $13 per share. | |
December 15 | Declared a cash dividend on shares outstanding of $2.10 per share to shareholders of record on December 31. |
Prepare entries, if any, for each of the three dates involving dividends. |
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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