Question: LLIUR LUIR Chapter 13 Problem Set B Problem 13-7 At the beginning of 2019, Patten Corporation had 24,500 shares of common stock issued and outstanding.

 LLIUR LUIR Chapter 13 Problem Set B Problem 13-7 At the

LLIUR LUIR Chapter 13 Problem Set B Problem 13-7 At the beginning of 2019, Patten Corporation had 24,500 shares of common stock issued and outstanding. In April, Patten issued an additional 13,000 shares, and in September the corporation repurchased 8,000 shares. On November 20, 2019, the Board of Directors declared a dividend of $3 per common share to stockholders of record on December 1, 2019, payable on December 15, 2019. Calculate the number of shares issued and number of shares outstanding on November 20. Prepare the appropriate journal entries for November 20, December 1, and December 15, 2019

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