On January 1, Armada Corporation had 95,000 shares of no-par common stock issued Journalize cash dividends; inand outstanding. The stock has a stated value of $5 per share. During the year, the following oc- dicate statement presentation.

curred. (SO 5)

Apr. 1 Issued 15,000 additional shares of common stock for $17 per share.

June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30.

July 10 Paid the $1 cash dividend.

Dec. 1 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, if any, on each of the three dividend dates.

(b) How are dividends and dividends payable reported in the financit December 31?

statements prepared at