Current Attempt in Progress On January 1 Weiss Corporation had 60,000 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 June 15 July 10 Dec. 1 15 Part 1 Issued 10,000 additional shares of common stock for $10 per share. Declared a cash dividend of $1.00 per share to stockholders of record on June 30. Paid the $1.00 cash dividend. Issued 4,000 additional shares of common stock for $12 per share. Declared a cash dividend on outstanding shares of $1.00 per share to stockholders of record on December 31. 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 O for the amounts.) Date Account Titles and Explanation Debit Credit
Current Attempt in Progress On January 1 Weiss Corporation had 60,000 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 June 15 July 10 Dec. 1 15 Part 1 Issued 10,000 additional shares of common stock for $10 per share. Declared a cash dividend of $1.00 per share to stockholders of record on June 30. Paid the $1.00 cash dividend. Issued 4,000 additional shares of common stock for $12 per share. Declared a cash dividend on outstanding shares of $1.00 per share to stockholders of record on December 31. 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 O for the amounts.) Date Account Titles and Explanation Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Current Attempt in Progress
On January 1 Weiss Corporation had 60,000 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
June 15
July 10
Dec. 1
15
Part 1
Issued 10,000 additional shares of common stock for $10 per share.
Declared a cash dividend of $1.00 per share to stockholders of record on June 30.
Paid the $1.00 cash dividend.
Issued 4,000 additional shares of common stock for $12 per share.
Declared a cash dividend on outstanding shares of $1.00 per share to stockholders of record on December 31.
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 O for the amounts.)
Date
Account Titles and Explanation
List of Accounts
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