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On January 1, Martinez Corp.had 61,800 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 13,050 additional shares of common stock for $11 per share. Apr. 1 June 15 Declared a cash dividend of $1.60 per share to stockholders of record on June 30. July 10 Paid the $1.60 cash dividend. Dec. 1 Issued 5,800 additional shares of common stock for $12 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.00 per share to stockholders of record on December 31. (a) Prepare the entries, if any, on each of the three dates that involved dividends. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 0 decimal places, eg. 1,225.) Date Account Titles and Explanation Debit Credit 10:37 AM carch 4/23/2020 1 F5 **- F6 F7 F8 PrtSc F9 F10 Insert Delete F11 F12 Backspace Num Lock 8. Home + || P.

On January 1, Martinez Corp.had 61,800 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 13,050 additional shares of common stock for $11 per share. Apr. 1 June 15 Declared a cash dividend of $1.60 per share to stockholders of record on June 30. July 10 Paid the $1.60 cash dividend. Dec. 1 Issued 5,800 additional shares of common stock for $12 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.00 per share to stockholders of record on December 31. (a) Prepare the entries, if any, on each of the three dates that involved dividends. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 0 decimal places, eg. 1,225.) Date Account Titles and Explanation Debit Credit 10:37 AM carch 4/23/2020 1 F5 **- F6 F7 F8 PrtSc F9 F10 Insert Delete F11 F12 Backspace Num Lock 8. Home + || P.

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, Martinez Corp.had 61,800 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 13,050 additional shares of common stock for $11 per share. Apr. 1 June 15 Declared a cash dividend of $1.60 per share to stockholders of record on June 30. July 10 Paid the $1.60 cash dividend. Dec. 1 Issued 5,800 additional shares of common stock for $12 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.00 per share to stockholders of record on December 31. (a) Prepare the entries, if any, on each of the three dates that involved dividends. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 0 decimal places, eg. 1,225.) Date Account Titles and Explanation Debit Credit 10:37 AM carch 4/23/2020 1 F5 **- F6 F7 F8 PrtSc F9 F10 Insert Delete F11 F12 Backspace Num Lock 8. Home + || P.
Transcribed Image Text:On January 1, Martinez Corp.had 61,800 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 13,050 additional shares of common stock for $11 per share. Apr. 1 June 15 Declared a cash dividend of $1.60 per share to stockholders of record on June 30. July 10 Paid the $1.60 cash dividend. Dec. 1 Issued 5,800 additional shares of common stock for $12 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.00 per share to stockholders of record on December 31. (a) Prepare the entries, if any, on each of the three dates that involved dividends. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 0 decimal places, eg. 1,225.) Date Account Titles and Explanation Debit Credit 10:37 AM carch 4/23/2020 1 F5 **- F6 F7 F8 PrtSc F9 F10 Insert Delete F11 F12 Backspace Num Lock 8. Home + || P.
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