On January 1, Flint Corporation had 62,900 shares of no-par common stock issued and outstanding. The stock has a stated value of per share. During the year, the following transactions occurred. Apr. 1 Issued 18,000 additional shares of common stock for $13 per share. June 15 July 10 Dec. 1 Dec. 15 (a) Declared a cash dividend of $1.95 per share to stockholders of record on June 30. Paid the $1.95 cash dividend. Issued 8,000 additional shares of common stock for $13 per share. Declared a cash dividend on outstanding shares of $2.25 per share to stockholders of record on December 31.
On January 1, Flint Corporation had 62,900 shares of no-par common stock issued and outstanding. The stock has a stated value of per share. During the year, the following transactions occurred. Apr. 1 Issued 18,000 additional shares of common stock for $13 per share. June 15 July 10 Dec. 1 Dec. 15 (a) Declared a cash dividend of $1.95 per share to stockholders of record on June 30. Paid the $1.95 cash dividend. Issued 8,000 additional shares of common stock for $13 per share. Declared a cash dividend on outstanding shares of $2.25 per share to stockholders of record on December 31.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![On January 1, Flint Corporation had 62,900 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.
Issued 18,000 additional shares of common stock for $13 per share.
Declared a cash dividend of $1.95 per share to stockholders of record on June 30.
Paid the $1.95 cash dividend.
Issued 8,000 additional shares of common stock for $13 per share.
Dec. 15 Declared a cash dividend on outstanding shares of $2.25 per share to stockholders of record on December 31.
Apr. 1
June 15.
July 10
Dec.
1
(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, eg. 5.276.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6848706f-2597-404e-aaa2-486ff030cb6d%2F116e6aa9-4121-4f64-af8b-a1c4775fc065%2Ffvnfqos_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On January 1, Flint Corporation had 62,900 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.
Issued 18,000 additional shares of common stock for $13 per share.
Declared a cash dividend of $1.95 per share to stockholders of record on June 30.
Paid the $1.95 cash dividend.
Issued 8,000 additional shares of common stock for $13 per share.
Dec. 15 Declared a cash dividend on outstanding shares of $2.25 per share to stockholders of record on December 31.
Apr. 1
June 15.
July 10
Dec.
1
(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, eg. 5.276.)
![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, eg. 5,276.)
June 15
July 10
Dec. 15
Assets
Cash
Liabilities
Dividend Payable
Paid-in-Capital
Revenue](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6848706f-2597-404e-aaa2-486ff030cb6d%2F116e6aa9-4121-4f64-af8b-a1c4775fc065%2Fcu4y4z_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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, eg. 5,276.)
June 15
July 10
Dec. 15
Assets
Cash
Liabilities
Dividend Payable
Paid-in-Capital
Revenue
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