Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Chegg gave me this answer minutes ago, but it is not correct everything. Can you please help? The ones in red are incorrect what should

Chegg gave me this answer minutes ago, but it is not correct everything. Can you please help? The ones in red are incorrect what should I put instead ??? Pleaseee
image text in transcribed
image text in transcribed
image text in transcribed
Exercise 14-1 Your answer is partially correct. Try again. On January 1, Guillen Corporation had 95,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $7 per share. During the year, the following Occurred Apr. 1 June 15 July 10 Dec. 1 15 issued 24,500 additional shares of common stock for $16 per share. Declared a cash dividend of $3 per share to stockholders of record on June 30. Paid the $3 cash dividend. issued 3,000 additional shares of common stock for $10 per share. Declared a cash dividend on outstanding shares of $1.60 per share to stockholders of record on December 31 al entries Prepare the entries to record these transactions. If no entry is required, select "No entry for the account s and enter for the amounts Record order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Apr.1 Cash Common Stock Date 7 Apr. 1 Account Titles and Explanation Cash T 392000 T Common Stock Paid-in Capital in Excess of Par Common Stock 220500 June 15 Dividend 360000 T Dividend payable July 10 Dividend payable Cash Dec. 1 Cash Common Stock Paid in Capital in Excess of Par-Common Stock Paid-in Capital in Excess of Par Common Stock 16000 7 Dec. 15 Dividend 96800|| Dividend payable 196800 Click if you would like to Show Work for this questioni Don Show Work

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions