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On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 June 15 July 10 Dec. (b) 1 15 A Issued 25,000 additional shares of common stock for $17 per share. Declared a cash dividend of $1 per share to stockholders of record on June 30. Paid the $1 cash dividend. Issued 2,000 additional shares of common stock for $19 per share. Declared a cash dividend on outstanding shares of $1.20 per share to stockholders of record on December 31. How are dividends and dividends payable reported in the financial statements prepared at December 31? BIU T₂ T' LE = 3 € E M M M 99 = á T 14 ←

On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 June 15 July 10 Dec. (b) 1 15 A Issued 25,000 additional shares of common stock for $17 per share. Declared a cash dividend of $1 per share to stockholders of record on June 30. Paid the $1 cash dividend. Issued 2,000 additional shares of common stock for $19 per share. Declared a cash dividend on outstanding shares of $1.20 per share to stockholders of record on December 31. How are dividends and dividends payable reported in the financial statements prepared at December 31? BIU T₂ T' LE = 3 € E M M M 99 = á T 14 ←

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, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 June 15 July 10 Dec. 1 (b) 15 B How are dividends and dividends payable reported in the financial statements prepared at December 31? A Issued 25,000 additional shares of common stock for $17 per share. Declared a cash dividend of $1 per share to stockholders of record on June 30. Paid the $1 cash dividend. Issued 2,000 additional shares of common stock for $19 per share. Declared a cash dividend on outstanding shares of $1.20 per share to stockholders of record on December 31. I T₂ T² Ix 3 E = E 99 3 á T O Word(s)
Transcribed Image Text:Current Attempt in Progress On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 June 15 July 10 Dec. 1 (b) 15 B How are dividends and dividends payable reported in the financial statements prepared at December 31? A Issued 25,000 additional shares of common stock for $17 per share. Declared a cash dividend of $1 per share to stockholders of record on June 30. Paid the $1 cash dividend. Issued 2,000 additional shares of common stock for $19 per share. Declared a cash dividend on outstanding shares of $1.20 per share to stockholders of record on December 31. I T₂ T² Ix 3 E = E 99 3 á T O Word(s)
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