On January 1, Ayayai Corp. had 61.000 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 (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.) Assets June 15 July 10 Dec. 15 Issued 9,450 additional shares of common stock for $11 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 4,200 additional shares of common stock for $11 per share. Declared a cash dividend on outstanding shares of $1.60 per share to stockholders of record on December 31. $ Cash $ Liabilities Dividend Payable Paid-in-Capital Revenue

On January 1, Ayayai Corp. had 61.000 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 (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.) Assets June 15 July 10 Dec. 15 Issued 9,450 additional shares of common stock for $11 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 4,200 additional shares of common stock for $11 per share. Declared a cash dividend on outstanding shares of $1.60 per share to stockholders of record on December 31. $ Cash $ Liabilities Dividend Payable Paid-in-Capital Revenue

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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