Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1, pina colada corp. had 62,100 shares

On January 1, Pina Colada Corp. had 62,100 shares of no-par common stock issued and...

50.1K

Verified Solution

Question

Accounting

On January 1, Pina Colada Corp. had 62,100 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 Issued 14,400 additional shares of common stock for $12 per share.
June 15 Declared a cash dividend of $1.50 per share to stockholders of record on June 30.
July 10 Paid the $1.50 cash dividend.
Dec. 1 Issued 6,400 additional shares of common stock for $13 per share.
Dec. 15 Declared a cash dividend on outstanding shares of $1.70 per share to stockholders of record on December 31.

(a) Prepare a tabular summary to record the three dates that involved dividends. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. Round answers to 0 decimal places, e.g.

image

Assets Liabilities Stockholders' Equity Paid-in-Capital PIC in Excess of Par Com. Retained Earnings Dividend Cash Common Stock Revenue Expense Jan. 10 $ July 1

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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Objective: Describe the advantages that surveys have to offer. Surveys attempt to fill the gaps of the...

Psychology
Q

The establishment of the Delhicapital helped to infuse the threecultures of the Indians, Persians, andMuslims....

Biology
Q

When developping the embryo of a goat divides into an exponential number of blastomeres completes...

Biology
Q

Problem21.A circular cylinder is formed by rolling an 8 1/2x11" paper vertically and taping it...

Geometry
Q

Madison was given a large box of 42 chocolates for her birthday. If she eats...

Basic Math
Q

Let A=[1 2 -2 11 3 ...

Algebra
Q

BONUS Bonus will be graded as noted in the rubric with the understanding that a...

Algebra
Q

IRR, NPV, and Payback Period JB Chemical currently discharges liquid waste into Calgary's municipal sewer...

Accounting
Q

[The following information applies to the questions displayed below.] Natalie owns a condominium near Cocoa...

Accounting
Q

Question Completion Status QUESTION 23 A survey was conducted to examine whether than shades and...

Accounting
Q

Problem 6 Part 1 Attempt 3/5 for 6 pts. What are determinants of market interest...

Finance
Q

please help i am so confused!! Prepare a Schedule...

Accounting