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Date Account Titles and Explanation eTextbook and Media List of Accounts Save for Later Debit Credit DONOS DOD Attempts unlimited Submit Anmer

Date Account Titles and Explanation eTextbook and Media List of Accounts Save for Later Debit Credit DONOS DOD Attempts unlimited Submit Anmer

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Date Account Titles and Explanation eTextbook and Media List of Accounts Save for Later Debit Attempts: unlimited Credit Submit Answ
Transcribed Image Text:Date Account Titles and Explanation eTextbook and Media List of Accounts Save for Later Debit Attempts: unlimited Credit Submit Answ
On January 1, Culver Corporation had 62,800 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 June 15 July 10 Dec. 1 Dec. 15 Issued 17,550 additional shares of common stock for $11 per share. Declared a cash dividend of $1.60 per share to stockholders of record on June 30. Paid the $1.60 cash dividend. Issued 7,800 additional shares of common stock for $12 per share. Declared a cash dividend on outstanding shares of $2.00 per share to stockholders of record on December 31.
Transcribed Image Text:On January 1, Culver Corporation had 62,800 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 June 15 July 10 Dec. 1 Dec. 15 Issued 17,550 additional shares of common stock for $11 per share. Declared a cash dividend of $1.60 per share to stockholders of record on June 30. Paid the $1.60 cash dividend. Issued 7,800 additional shares of common stock for $12 per share. Declared a cash dividend on outstanding shares of $2.00 per share to stockholders of record on December 31.
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