On January 1, Guillen Corporation had 93,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $7 per share. During the year, the following occurred:
Apr. 1 Issued 20,500 additional shares of common stock for $18 per share.
June 15 Declared a cash dividend of $2 per share to stockholders of record on June 30.
July 10 Paid the $2 cash dividend.
Dec. 1 Issued 2,000 additional shares of common stock for $18 per share.
Dec. 15 Declared a cash dividend on outstanding shares of $3.50 per share to stockholders of record on December 31.
Prepare the entries, on each of the three dividend dates.
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On January 1, Guillen Corporation had 93,000 shares of no-par common stock issued and outstanding. T...
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