Exercise 14-01 a (Video) On January 1, Sandhill Corporation had 90,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following occurred Issued 29,500 additional shares of common stock for $18 per share Apr. 1 Declared a cash dividend of $3 per share to stockholders of record on June 30 une 15 July 10 Paid the $3 cash dividend Dec. 1 Issued 2,000 additional shares of common stock for $20 per share Declared a cash dividend on outstanding shares of $3.70 per share to stockholders of record on December 31 15 Prepare the entries to record these transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit On January 1, 2020, Crane Corporation had $1,420,000 of common stock outstanding that was issued at par. It also had retained earnings of $740,500. The company issued 40,500 shares of common stock at par on July 1 and earned net income of $410,000 for the year. Journalize the declaration of a 15% stock dividend on December 10, 2020, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Par value is $10, and market price is $18. Par value is $5, and market price is $22 a. b. No. Account Titles and Explanation Debit Credit a. b. SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: SIMILAR EXERCISE