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Exercise 11-5 On January 1, 2018, Munchies Corporation had 75,000 common shares, recorded at $577,000, and retained earnings of $946,000. During the year, the following transactions occurred: Apr. 2 lssued 5,000 common shares at $20 per share. June1S Doclared a cash dividand of $0.35 per share to common shareholders of record on June 30, payable on July 10 .21 Declared a 5% stock dividend to common shareholders of record on September 5, distributable on September 20. The shares were trading for $23 a share on August 21, $24 on September 5, and S27 on Septembe Nov. 1 Issued 2,900 common shares at $25 per share. Dec. 20 Declared a cash dividend of sO.40 per share to common sharcholders of record on December 31, payable on January 10 Your answer is partially correct. Try again Record the above transactions for 2018. (Note: Closing entries are not required.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit Apr. 2 : Common Shares June 15Dividends Declared Dividends Payable July 10Dividends Payable Cash Aug. 21Dividends Declared Stock Dividends Distri Sept. 20 Stock Dividends Distrib Common Shares Nov. 1 Common Shares Dec. 20 Dividends Declared Dividends Payable SHOW LIST OF ACCOUNTS Your answer is incorrect. Try again. What is the number of common shares at the end of the year? Number of common shares 6710

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