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On January 1, Martinez Corp. had 61,800 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share.
On January 1, Martinez Corp. had 61,800 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 13,050 additional shares of common stock for $11 per share. | |
| June 15 | Declared a cash dividend of $1.60 per share to stockholders of record on June 30. | |
| July 10 | Paid the $1.60 cash dividend. | |
| Dec. 1 | Issued 5,800 additional shares of common stock for $12 per share. | |
| Dec. 15 | Declared a cash dividend on outstanding shares of $2.00 per share to stockholders of record on December 31. |
| (a) | Prepare the entries, if any, on each of the three dates that involved dividends. |
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Auditors Guide To Information Systems Auditing
Authors: Richard E. Cascarino
1st Edition
0470009896, 978-0470009895
