Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1, guillen corporation had 92,500 share

On January 1, Guillen Corporation had 92,500 shares of no-par common stock issued and outstanding....

80.2K

Verified Solution

Question

Accounting

image

On January 1, Guillen Corporation had 92,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following occurred. Apr. 1 Issued 28,500 additional shares of common stock for $16 per share. June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30 July 10 Paid the $3 cash dividend. Dec. 1 Issued 1,500 additional shares of common stock for $18 per share. 15 Declared a cash dividend on outstanding shares of $3.20 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.) Date Account Titles and Explanation Debit Credit

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

(A review on SAS data management) The following is a data set of 12 individuals. And...

Statistics
Q

Explain why following the? saying, "When in? Rome, do as the Romans? do," is appropriate to...

General Management
Q

4 nR 20 The electric resistance of a certain wire of iron is R If...

Physics
Q

Suppose Cineplex at Masonville Place can sell out a 300-seat theatre when tickets are sold...

Basic Math
Q

What is a non-parametric test? A) A test that does not assume...

Accounting
Q

Use Excel: Questions 6 through 29 below are...

Accounting
Q

Old Country Links Inc. produces sausages in three production departments

Accounting
Q

Los Altos, Inc. Balance Sheet December 31, 2020 and 2019 (in millions) 2020 2019 Assets...

Accounting
Q

Fethe Inc. is a custom manufacturer of guitars, mandolins, and other stringed instruments and is...

Finance
Q

Elvin Hospital bases its budgets on patient-visits. The hospital's static planning budget for May appears...

Accounting
Q

The following information applies to Hawks Corporation: Beginning Inventory 0 Units Ending Inventory 4,000 units...

Accounting
Q

With a given size portfolio, the higher the portfolio beta, a. the more likely the...

Finance