Question: E14-1 EXERCISES Jo dividends: Statement E14-1 On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a

E14-1

EXERCISES Jo dividends: Statement E14-1 On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value Of $5 per share. During the year, the following occurred _ Apr. I Issued 25,000 additional shares of common stock for S 17 per share. June 15 Declared a cash dividend of S I per share to stockholders Of record on June 30. July 10 Paid the S I cash dividend. Dec. I Issued 2,000 additional shares of common stock for $19 per share. 15 Declared a cash dividend on outstanding shares Of $1.20 per share to stockholders of record on December 31 _ Instructions (a) Prepare the entries to record these transactions. (b) How are dividends and dividends payable reported in the financial pared at December 31 ?

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