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DYou aswer Ts Par uaily CorretL.TTy again. On January 1, Novak Corp. had 62,000 shares of no-par common stock issued and outstanding. The stock has
DYou aswer Ts Par uaily CorretL.TTy again. On January 1, Novak Corp. had 62,000 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. Issued 13,950 additional shares of common stock for $12 per share June 15 Declared a cash dividend of $1.60 per share to stockholders of record on June 30. July 10 Paid the $1.60 cash dividend. Dec. 1 Issued 6,200 additional shares of common stock for $11 per share. Dec. 15 Declared a cash dividend on outstanding shares of $1.70 per share to stockholders of record on December 31. (a) Prepare the entries, if any, on each of the three dates that involved dividends. (Record journal entries in the order presented in the problem. Credit account titles are automatically inde entry is required, select "No Entry" for the account titles and enter o for the amounts. Round answers to O decimal places, e.g. 1,225.) Date Account Titles and Explanation Debit Credit Dune 15 Cash Dividends 121520 Dividends Payable 121520 uly 10Dividends Payable 121520 Cash 121520 Dec. 15Cash Dividends Dividends Payable
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