Q5 On January 1, Chreesh Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred.

Apr. 1 Issued 25,000 additional shares of common stock for $17 per share.

June 15 Declared a cash dividend of $1 per share to stockholders of record on
June 30.

July 10 Paid the $1 cash dividend.

Dec. 1 Issued 2,000 additional shares of common stock for $19 per share.

Dec 15 Declared a cash dividend on outstanding shares of $1.20 per share to
stockholders of record on December 31.

Instructions

a) Prepare the entries, if any, on each of the three dividend dates.

b) How are dividends and dividends payable reported in the fi nancial statements prepared atDecember 31?