On January 1, Crane Corporation had 62,400 shares of no-par common stock issued and outstanding. The...

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On January 1, Crane Corporation had 62,400 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 8,100 additional shares of common stock for $11 per share. June 15 Declared a cash dividend of $1.50 per share to stockholders of record on June 30. July 10 Paid the $1.50 cash dividend. Dec. 1 Issued 4,400 additional shares of common stock for $12 per share. (a) 15 Declared a cash dividend on outstanding shares of $1.60 per share to stockholders of record on December 31. Your Answer Correct Answer (Used) Prepare the entries, if any, on each of the three dates that involved dividends. (Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) ate Account Titles and Explanation 15 Cash Dividends Dividends Payable 10 Dividends Payable 15 Cash Cash Dividends Dividends Payable Debit Credit 105,750 105,750 119,840 (b) How are dividends and dividends payable reported in the financial statements prepared at December 31? On the retained earnings statement, dividends of $ balance sheet, Dividends Payable of $ will be deducted. On the will be reported as a On January 1, Crane Corporation had 62,400 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 8,100 additional shares of common stock for $11 per share. June 15 Declared a cash dividend of $1.50 per share to stockholders of record on June 30. July 10 Paid the $1.50 cash dividend. Dec. 1 Issued 4,400 additional shares of common stock for $12 per share. (a) 15 Declared a cash dividend on outstanding shares of $1.60 per share to stockholders of record on December 31. Your Answer Correct Answer (Used) Prepare the entries, if any, on each of the three dates that involved dividends. (Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) ate Account Titles and Explanation 15 Cash Dividends Dividends Payable 10 Dividends Payable 15 Cash Cash Dividends Dividends Payable Debit Credit 105,750 105,750 119,840 (b) How are dividends and dividends payable reported in the financial statements prepared at December 31? On the retained earnings statement, dividends of $ balance sheet, Dividends Payable of $ will be deducted. On the will be reported as a