Current Attempt in Progress On January 1, Pina Colada Corp. had 62,100 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. Issued 14,400 additional shares of common stock for $12 per share. Declared a cash dividend of $1.50 per share to stockholders of record on June 30. Paid the $1.50 cash dividend. Issued 6,400 additional shares of common stock for $13 per share. Dec. 15 Declared a cash dividend on outstanding shares of $1.70 per share to stockholders of record on December 31. Apr. June July Dec. 1 15 10 1 (a) Prepare the entries on each of the three dates that involved 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 O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Date Debit Credit
Current Attempt in Progress On January 1, Pina Colada Corp. had 62,100 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. Issued 14,400 additional shares of common stock for $12 per share. Declared a cash dividend of $1.50 per share to stockholders of record on June 30. Paid the $1.50 cash dividend. Issued 6,400 additional shares of common stock for $13 per share. Dec. 15 Declared a cash dividend on outstanding shares of $1.70 per share to stockholders of record on December 31. Apr. June July Dec. 1 15 10 1 (a) Prepare the entries on each of the three dates that involved 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 O for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Date Debit Credit
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter21: Corporations: Taxes, Earnings, Distributions, And The Statement Of Retained Earnings
Section: Chapter Questions
Problem 11SPA
Related questions
Question
DO NOT GIVE SOLUTION IN IMAGE FORMAT
![Current Attempt in Progress
On January 1, Pina Colada Corp. had 62,100 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.
June
July
Dec.
1
P
15
1
Dec. 15
10
Issued 14,400 additional shares of common stock for $12 per share.
Declared a cash dividend of $1.50 per share to stockholders of record on June 30.
Paid the $1.50 cash dividend.
Issued 6,400 additional shares of common stock for $13 per share.
Declared a cash dividend on outstanding shares of $1.70 per share to stockholders of record on December 31.
Prepare the entries on each of the three dates that involved 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 tities and enter O for the amounts. List all debit entries before credit entries)
Date
Account Titles and Explanation
MacBook Air
Debit
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0507d977-40c4-415e-96d7-be834965d5c0%2F1b96d792-c1d6-42a0-95bf-73dcf3293cb9%2Fyi6p46b_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Current Attempt in Progress
On January 1, Pina Colada Corp. had 62,100 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.
June
July
Dec.
1
P
15
1
Dec. 15
10
Issued 14,400 additional shares of common stock for $12 per share.
Declared a cash dividend of $1.50 per share to stockholders of record on June 30.
Paid the $1.50 cash dividend.
Issued 6,400 additional shares of common stock for $13 per share.
Declared a cash dividend on outstanding shares of $1.70 per share to stockholders of record on December 31.
Prepare the entries on each of the three dates that involved 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 tities and enter O for the amounts. List all debit entries before credit entries)
Date
Account Titles and Explanation
MacBook Air
Debit
Credit
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