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On January 1, Grouper Corp. had 61,600 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share.
On January 1, Grouper Corp. had 61,600 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 12,150 additional shares of common stock for $13 per share June 15 Declared a cash dividend of $1.65 per share to stockholders of record on June 30 July 10 Paid the $1.65 cash dividend Dec.1 Issued 5,400 additional shares of common stock for $13 per share Dec. 15 Declared a cash dividend on outstanding shares of $1.75 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 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. Round answers to 0 decimal places, e.g. 1,225.) Debit Date Account Titles and Explanation Credit June 15 Cash Dividends 302115 302115 Dividends Payable July 10Dividends Payable 498489.80 Cash 498489.8 Dec. 15 Cash Dividends 329875 329875 Dividends Payable
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