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Thank you. I didn't originally have the '-' signs, but I was confused as to what the computer wanted. Please help. View Policies Show Attempt
Thank you. I didn't originally have the '-' signs, but I was confused as to what the computer wanted. Please help.
View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. On January 1, Grouper Corp. had 61,600 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 12,150 additional shares of common stock for $13 per share. June 15 Declared a cash dividend of $1.65 per share to stockholders of record on June 30. July 10 Paid the $1.65 cash dividend. Dec. 1 Issued 5,400 additional shares of common stock for $13 per share. Dec. 15 Declared a cash dividend on outstanding shares of $1.75 per share to stockholders of record on December 31. (a) Prepare a tabular summary to record the three dates that involved dividends. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to 0 decimal places, e.g. 5,276.) Prepare a tabular summary to record the three dates that involved dividends. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to 0 decim places, e.g. 5,276.) Assets Liabilities Stockholders' Equity Paid-in-Capital Retained Earnings Cash Dividend Payable Revenue Expense Dividend June 15 $ i $ -121687.50 $ 1 $ i $ i $ - 121678.50 July 10 -121687.50 -121687.50 Dec. 15 -138512.5 - 138512.50 eTextbook and Media eTextbook and MediaStep by Step Solution
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