On June 1, Meyers Hotel Corporation had 80,000 shares of no-par common stock issued and outstanding. The

Question:

On June 1, Meyers Hotel had 80,000 shares of no-par issued and outstanding. The stock has a stated value of $10 per share. During the year, the following occurred:
Jul. 1 Issued 10,000 additional shares of .
Aug. 1 Declared a cash of $1.50 per share to stockholders of record on August 30.
Oct. 1 Paid the $1.50 per share cash 3 Issued 2,500 additional shares of .
Dec. 3 Declared a cash on outstanding shares of $1.60 per share to stockholders of record on December 31.
(a) Prepare the entries, if any, on each of the three dates.
(b) How are dividends and dividends payable reported in the prepared at December 31?

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