Question: Your answer is partially correct. Try again. On January 1, Pharoah Corporation had 91,500 shares of no-par common stock issued and outstanding. The stock has


Your answer is partially correct. Try again. On January 1, Pharoah Corporation had 91,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following occurred. Apr. 1 June 15 July 10 Dec. 1 Issued 23,000 additional shares of common stock for $19 per share. Declared a cash dividend of $2 per share to stockholders of record on June 30. Paid the $2 cash dividend. Issued 2,000 additional shares of common stock for $18 per share. Declared a cash dividend on outstanding shares of $3.00 per share to stockholders of record on December 31. 15 (a) Prepare the entries to record these transactions. (If no entry is required, select "No entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Apr. 1 cash 437000 Common Stock 92000 Paid-in Capital in Excess of Par-Common Stock 345000 June 15 Cash Dividends 114500 Dividends Payable 114500 July 10 Dividends Payable 114500 x Cash 114500 > Dec. 1
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