Question $15$ of $15$

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On January $1,$ Cullumber Corporation had $78,000$ shares of no$-$par common stock issued and outstanding. The stock has a stated value of $$5$ per share. During the year, the following transactions occurred:

Apr. $1$ Issued $13,000$ additional shares of common stock for $$10$ 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 $5,200$ additional shares of common stock for $$12$ per share.

$15$ Declared a cash dividend on outstanding shares of $$1$ per share to stockholders of record on December $31.$

$($a$)$

Prepare the entries, if any, on each of the three dates that involved dividends. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

Cash Dividends

Dividends Payable

Dividends Payable

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