2. on January 1 Weiss Corporation had 60,000 shares of no-par Common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following transactions occurred: Apr. 1 Issued 10,000 additional shares of common stock for $10 per share. June 15 Declared a cash dividend of $1.00 per share to stockholders of record on June 30. July 10 Paid the $1.00 cash dividend. Dec. 1 Issued 4,000 additional shares of common stock for $12 per share. 15 Declared a cash dividend on outstanding shares of $1.00 per share to stockholders of record on December 31. Instructions (a) Prepare the entries, if any, on each of the three dates that involved dividends. (b) How are dividends and dividends payable reported in the financial statements prepared at December 31? 3. On January 1,2014, Browning Corporation had 75,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar. 1 Issued 90,000 shares of common stock for $675,000 June 1 Declared a cash dividend of $2.00 per share to stockholders of record on June 15 June 30 Paid the $2.00 cash dividend Dec. 1 Purchased 5,000 shares of common stock for the treasury for $18 per share Dec 15 Declared a cash dividend on outstanding shares of $2.50 per share to stockholders of record on December 31 Net income for 2014 amounted to $951 000. Instructions Prepare journal entries to record the above transactions