Answered step by step
Verified Expert Solution
Question
1 Approved Answer
i need help filling out this problem, show work please Apr. 1 On January 1, Indigo Corporation had 63,000 shares of no-par common stock issued
i need help filling out this problem, show work please
Apr. 1 On January 1, Indigo Corporation had 63,000 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. Issued 18,450 additional shares of common stock for $13 per share Declared a cash dividend of $1.50 per share to stockholders of record on June 30. July 10 Paid the $1.50 cash dividend. Dec. 1 Issued 8,200 additional shares of common stock for $13 per share. Declared a cash dividend on outstanding shares of $1.90 per share to stockholders of record on December 31 June 15 Dec 15 (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 indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit Apr. 1 June 15 July 10 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started