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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.

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, 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.)
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
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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