Question
On January 1, Guillen Corporation had97,500shares of no-par common stock issued and outstanding. The stock has a stated value of $6per share. During the year,
On January 1, Guillen Corporation had97,500shares of no-par common stock issued and outstanding. The stock has a stated value of $6per share. During the year, the following occurred.
| Apr. | 1 | Issued29,500 additional shares of common stock for $18 per share. |
| June | 15 | Declared a cash dividend of $2 per share to stockholders of record on June 30. |
| July | 10 | Paid the $2 cash dividend. |
| Dec. | 1 | Issued3,000 additional shares of common stock for $18 per share. |
| 15 | Declared a cash dividend on outstanding shares of $1.50 per share to stockholders of record on December 31. |
the required journal entry's are attached in the doc file
On January 1, Guillen Corporation had 97,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. 1 June 15 July 10 Dec. 1 15 (a) Issued 29,500 additional shares of common stock for $18 per share. Declared a cash dividend of $2 per share to stockholders of record on June 30. Paid the $2 cash dividend. Issued 3,000 additional shares of common stock for $18 per share. Declared a cash dividend on outstanding shares of $1.50 per share to stockholders of record on December 31 Step by Step Solution
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Law, Business And Society
Authors: Tony McAdams, Kiren Dosanjh Zucker, Kristofer Neslund, Kari Smoker
12th Edition
1259721884, 978-1259721885
