Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 1, Swify Corporation had 63,100 hures of no-par common stock iswed and outstandine- The stock has a wated yakieal 54 por share During

image text in transcribed
On January 1, Swify Corporation had 63,100 hures of no-par common stock iswed and outstandine- The stock has a wated yakieal 54 por share During the year, the following transactions occurred Apr 1 Issued 18,900 addlitional stares of common stock for $12 per thare. June 15 Dedleed ac cathdividend of 51.90 per share to sockholders of record on June 30 . July 10 Paid the 51.50 cashidivend. Dec. 1. Issed 8,400 additional shares of commonstock for 513 per share. Dec 15 Deciareda cashdividend ocioutstanding shares of $210 per share to stockholders af record on December 31 (a) Prepare the entries on eacho the three dates that inwolved 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. List all debit entries before credit entriei.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Theory

Authors: William R Scott

5th Edition

0132072866, 978-0132072861

More Books

Students also viewed these Accounting questions