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Exercise 262 (Part Level Submission) On January 1 Weiss Corporation had 60,000 shares of no-par common stock issued and outstanding. The stock has a stated
Exercise 262 (Part Level Submission) On January 1 Weiss Corporation had 60,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following transactions occurred: Apr. 1 June 15 July 10 Dec. 1 15 Issued 10,000 additional shares of common stock for $10 per share. Declared a cash dividend of $1.00 per share to stockholders of record on June 30. Paid the $1.00 cash dividend. Issued 4,000 additional shares of common stock for $12 per share. Declared a cash dividend on outstanding shares of $1.00 per share to stockholders of record on December 31. v (a) Indicate the accounts increased or decreased, if any, on each of the three dates that involved dividends. Date Account Titles Increase/Decrease Amount June 15 July 10 Dec. 15
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