Assignment 14 Chapter 14 1. On January 1, Julie Co. had 120,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Prepare the entries on each of the dates below Declared a cash dividend of $1 per share to stockholders of record on June 30. June 15 July 10 Paid the $1 cash dividend. Dec. 1 Issued 2,000 additional shares of common stock for $19 per share. Dec. 15 Declared a cash dividend on outstanding shares of $1.20 per share to stockholders of record on December 31. (Hint: The number of shares have increased on Dec. 1.) Date Account Debit Credit 6/15 Cash Dividends 120,000 Sele Dividends Payable 120,000 7/10 Dividends Payable 120,000 ash 120,000 12/1 Cash Dividends 38,000 Dividends Payable 38,000