ting and Analyzing Stockholders' Equity ends and sentation. E11-6 On January 1, Graves Corporation had 60,000 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. Apr. 1 June 15 Issued 9,000 additional shares of common stock for $11 per share Declared a cash dividend of $1.50 per share to stockholders of record on June 30. Paid the $1.50 cash dividend. Issued 4,000 additional shares of common stock for $12 per share. Declared a cash dividend on outstanding shares of $1.60 per share to stock. holders of record on December 31. July 10 Dec. 1 15 Instructions (a) Prepare the entries, if any, on each of the three dates that involved dividends. (b) How are dividends and dividends payable reported in the financial statements prepared at December 31?

ting and Analyzing Stockholders' Equity ends and sentation. E11-6 On January 1, Graves Corporation had 60,000 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. Apr. 1 June 15 Issued 9,000 additional shares of common stock for $11 per share Declared a cash dividend of $1.50 per share to stockholders of record on June 30. Paid the $1.50 cash dividend. Issued 4,000 additional shares of common stock for $12 per share. Declared a cash dividend on outstanding shares of $1.60 per share to stock. holders of record on December 31. July 10 Dec. 1 15 Instructions (a) Prepare the entries, if any, on each of the three dates that involved dividends. (b) How are dividends and dividends payable reported in the financial statements prepared at December 31?

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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