On January 1, Ivanhoe Corporation had 91,000 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. 1 June 15 July 10 Dec. 1 (a) 15 Issued 21.000 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 2.500 additional shares of common stock for $18 per share. Declared a cash dividend on outstanding shares of $2.30 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)
On January 1, Ivanhoe Corporation had 91,000 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. 1 June 15 July 10 Dec. 1 (a) 15 Issued 21.000 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 2.500 additional shares of common stock for $18 per share. Declared a cash dividend on outstanding shares of $2.30 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)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On January 1, Ivanhoe Corporation had 91,000 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.
June
July
Dec
(a)
1 Issued 21.000 additional shares of common stock for $17 per share.
15
Declared a cash dividend of $1 per share to stockholders of record on June 30.
Paid the $1 cash dividend.
Issued 2.500 additional shares of common stock for $18 per share.
Declared a cash dividend on outstanding shares of $2.30 per share to stockholders of record on December 31.
G
10
1
15
Prepare the entries to record these transactions. Of 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)
Date
Apr 1
June 15 v
Account Titles and Explanation
Cash
Common Stock
Pantin Capital Excs of Stated Vake Common Stock
Cash Dividends
Debit
357,000
105.000
Credit
126.000
231.000
105.000
Transcribed Image Text:Date
Apr 1
Juve 15
July 10
Dec 1
Dec 15
M
Y
Account Titles and Explanation.
Cash
Convmon Stock
Paid in Capital in Excess of Stated Value-Common Stock
Cash Dividends
Dividends Payable
Dividends Payabin
Cash
Cash
Common Stock
Paid in Capital in Excess of Stated Value Common Stock
Cash Dividends
Dividendi Payable
Debit
357,000
105,000
91,000
45,000
209,300.
Credit
126,000
231,000
105.000
91,000
¡¡
12.500
32.500
209,300
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