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Current Attempt in Progress On January 1, Flounder Corp. had 61,500 shares of no-par common stock issued and outstanding. The stock has a stated
Current Attempt in Progress On January 1, Flounder Corp. had 61,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following transactions occurred. Apr 1 Issued 11,700 additional shares of common stock for $12 per share. June 15 Declared a cash dividend of $1.90 per share to stockholders of record on June 30. July 10 Paid the $1.90 cash dividend. Dec. Dec 1 Issued 5,200 additional shares of common stock for $13 per share. 15 Declared a cash dividend on outstanding shares of $2.30 per share to stockholders of record on December 31. (a) Prepare a tabular summary to record the three dates that involved dividends. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to O decimal places, eg. 5,276) June 15 July 10 Dec. 15 Assets Liabilities Cash Dividend Payable $ Paid-in-Capital Revenue
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