Question
On January 1,Blue Spruce Corp.had63,300shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year,
On January 1,Blue Spruce Corp.had63,300shares 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. 1Issued19,800additional shares of common stock for $13per share.June 15Declared a cash dividend of $1.65per share to stockholders of record on June 30.July 10Paid the $1.65cash dividend.Dec. 1Issued8,800additional shares of common stock for $11per share.Dec. 15Declared a cash dividend on outstanding shares of $1.85per 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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Intermediate Accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson, Lawrence Tomassini
5th Edition
0077282078, 9780077282073
