On January 1, Bramble Corp had 63,400 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 20,250 additional shares of common stock for $12 per share June 15 Declared a cash dividend of $1 55 per share to stockholders of record on June 30 July 10 Paid the $1 55 cash dividend Dec 1 Issued 9,000 additional shares of common stock for $13 per share Dec 15 Declared a cash dividend on outstanding shares of $2 05 per share to stockholders of record on December 31 (a) Prepare the entries, if any, on each of the three dates that involved divid

Question

On January 1, Bramble Corp  had 63,400 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 20,250 additional shares of common stock for $12 per share  June 15 Declared a cash dividend of $1 55 per share to stockholders of record on June 30  July 10 Paid the $1 55 cash dividend  Dec  1 Issued 9,000 additional shares of common stock for $13 per share  Dec  15 Declared a cash dividend on outstanding shares of $2 05 per share to stockholders of record on December 31  (a) Prepare the entries, if any, on each of the three dates that involved divid

Accepted Answer

The Answer is in the image, click to view ...

Apr. 1		Issued 20,250 additional shares of common stock for $12 per share.
June 15		Declared a cash dividend of $1.55 per share to stockholders of record on June 30.
July 10		Paid the $1.55 cash dividend.
Dec. 1		Issued 9,000 additional shares of common stock for $13 per share.
Dec. 15		Declared a cash dividend on outstanding shares of $2.05 per share to stockholders of record on December 31.

Question

On January 1, Bramble Corp. had 63,400 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share.

Step by Step Solution

Step: 1

Get Instant Access with AI-Powered Solutions

Step: 2

Step: 3

Ace Your Homework with AI

Students also viewed these Accounting questions

Question

Question

Question

Question

Question

Question

Question

Question

Question