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On January 1, Crane Corporation had 94,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. Issued 23,000 additional shares of common stock for $16 per share. 1 June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30. July 10 Paid the $3 cash dividend. Dec. 1 Issued 3,000 additional shares of common stock for $19 per share. 15 Declared a cash dividend on outstanding shares of $3.30 per share to stockholders of record on December 31.

On January 1, Crane Corporation had 94,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. Issued 23,000 additional shares of common stock for $16 per share. 1 June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30. July 10 Paid the $3 cash dividend. Dec. 1 Issued 3,000 additional shares of common stock for $19 per share. 15 Declared a cash dividend on outstanding shares of $3.30 per share to stockholders of record on December 31.

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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Current Attempt in Progress On January 1, Crane Corporation had 94,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. Issued 23,000 additional shares of common stock for $16 per share. 1 June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30. July 10 Paid the $3 cash dividend. Dec. 1 Issued 3,000 additional shares of common stock for $19 per share. 15 Declared a cash dividend on outstanding shares of $3.30 per share to stockholders of record on December 31.
Transcribed Image Text:Current Attempt in Progress On January 1, Crane Corporation had 94,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. Issued 23,000 additional shares of common stock for $16 per share. 1 June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30. July 10 Paid the $3 cash dividend. Dec. 1 Issued 3,000 additional shares of common stock for $19 per share. 15 Declared a cash dividend on outstanding shares of $3.30 per share to stockholders of record on December 31.
Prepare the entries to record these transactions. (If no entry Is required, select "No entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not Indent manually,.) Debit Credit Date Account Titles and Explanation
Transcribed Image Text:Prepare the entries to record these transactions. (If no entry Is required, select "No entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not Indent manually,.) Debit Credit Date Account Titles and Explanation
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