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On January 1, Crane Corporation has 99,000 shares of no-per common stocked and outstanding. The stock has a stated value of 54 per share. During the year, the following occurred Apt 1 June 15 July 10 Dec 1 M Issued 25,500 additional shares of common stock for $17 per there Declarad a cash dividend of 51 per share to stackticidark of rected on 30 Paid the 51 cash dividend sed 3.000 donel shares of common stock to 519 per share Declared a cast divicand on cutstanding shares of $400 par share stockers ofrecordion Demo 31 Prepare the entries to record these transactions to entry is required, select "Ne entry to the antices and enter for the amount Recard journal entries in the order presented in the probi Creditaccount title inted when amount int indent manually) Date Account Titles and Explanation Debit Credit

On January 1, Crane Corporation has 99,000 shares of no-per common stocked and outstanding. The stock has a stated value of 54 per share. During the year, the following occurred Apt 1 June 15 July 10 Dec 1 M Issued 25,500 additional shares of common stock for $17 per there Declarad a cash dividend of 51 per share to stackticidark of rected on 30 Paid the 51 cash dividend sed 3.000 donel shares of common stock to 519 per share Declared a cast divicand on cutstanding shares of $400 par share stockers ofrecordion Demo 31 Prepare the entries to record these transactions to entry is required, select "Ne entry to the antices and enter for the amount Recard journal entries in the order presented in the probi Creditaccount title inted when amount int indent manually) Date Account Titles and Explanation Debit Credit

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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On January 1, Crane Corporation had 59,000 shares of no-per common stock ised and outstanding. The stock has a stated value of $4 per share. During the year, the following occurred Apt. Junc Dec al 1 1 25 Issued 25,500 additional shares of common stock for $17 per here Declared a cash dividend of $1 par share to stockholders of rected on June 30 Paid the $1 cash dividend. Issued 3,000 additional shares of common stock for $19 per share Declared a cash divicand on cutstanding shares of $4.00 par share stockalperstrecordion December 31 Prepare the entries to record these transactions. If no entry is required, select "No entry for the accent titles and enter for the amounts Recand journal entries in the order presented in the problems Credit account titles ore automatically indented when amount is teed Do not indent manually) Date Account Titles and Explanation Debit Credit
Transcribed Image Text:On January 1, Crane Corporation had 59,000 shares of no-per common stock ised and outstanding. The stock has a stated value of $4 per share. During the year, the following occurred Apt. Junc Dec al 1 1 25 Issued 25,500 additional shares of common stock for $17 per here Declared a cash dividend of $1 par share to stockholders of rected on June 30 Paid the $1 cash dividend. Issued 3,000 additional shares of common stock for $19 per share Declared a cash divicand on cutstanding shares of $4.00 par share stockalperstrecordion December 31 Prepare the entries to record these transactions. If no entry is required, select "No entry for the accent titles and enter for the amounts Recand journal entries in the order presented in the problems Credit account titles ore automatically indented when amount is teed Do not indent manually) Date Account Titles and Explanation Debit Credit
Current Attemptin Progress On January 2 Clare Corporation had 95,000 shares of nopar common stock issuadend outstanding. The stock has a stated val 54 per shara. During the year, the following courted Apr 1 June 25 July 10 4 Dec. 15 Issued 21.500 ad bonal shares of common stock for $17 per share Ueclared ash dividende/Sipershare to stockholders of record on June 30. Paid the 51 cash dividend sed 3,000 additional sheres of common stock for $19 pershen Declaradacach dividend on outstanding shares or $400 per share tostochoiriers of cord on December 31 Prepare the entries to rocced these iransactions. If no entry is required, elect Record journal entries in the order presented in the problem Credit acconta nountry for the account tities and enter for the ants btles are automatically indental when avant is entered On not indent manually Date Acxmunt Titles and Explanation Debit Credit 4
Transcribed Image Text:Current Attemptin Progress On January 2 Clare Corporation had 95,000 shares of nopar common stock issuadend outstanding. The stock has a stated val 54 per shara. During the year, the following courted Apr 1 June 25 July 10 4 Dec. 15 Issued 21.500 ad bonal shares of common stock for $17 per share Ueclared ash dividende/Sipershare to stockholders of record on June 30. Paid the 51 cash dividend sed 3,000 additional sheres of common stock for $19 pershen Declaradacach dividend on outstanding shares or $400 per share tostochoiriers of cord on December 31 Prepare the entries to rocced these iransactions. If no entry is required, elect Record journal entries in the order presented in the problem Credit acconta nountry for the account tities and enter for the ants btles are automatically indental when avant is entered On not indent manually Date Acxmunt Titles and Explanation Debit Credit 4
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