Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1, bramble corp. had 63,400 shares of n

On January 1, Bramble Corp. had 63,400 shares of no-par common stock issued and outstanding....

50.1K

Verified Solution

Question

Accounting

image

On January 1, Bramble Corp. had 63,400 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 20,250 additional shares of common stock for $12 per share. June 15 Declared a cash dividend of $1.60 per share to stockholders of record on June 30. July 10 Paid the $1.60 cash dividend. Dec. 1 Issued 9,000 additional shares of common stock for $13 per share. Dec. 15 Declared a cash dividend on outstanding shares of $2.00 per share to stockholders of record on December 31. (a) Prepare the entries, if any, on each of the three dates that involved dividends. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to decimal places, e.g. 1,225.) 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

Finance
1.2K views

Does it appear as if financial distress costs should be a significant determinant of Fortune 100...

Biology
1.2K views

There are two ways to study receptor responsiveness in cultured cell lines: use a cell line...

Psychology
1.2K views

What does it mean to take ownership of your own learning? In your response, describe the...

Basic Math
1.2K views

Diameters of 30 rivet heads in 1/100 of an inch are given below: 6.62 6.66 6.7 6.73 6.76 6.8 6.62 6.68 6.72 6.74 6.76 6.81 6.64 6.7 6.72 6.74 6.76 6.81 6.66 6.7 6.72 6.74 6.77 6.81 6.66 6.7 6.72 6.75 6.78 6.82 Prepare a Stem-and-leaf plot...

Biology
1.2K views

ny do we say that populations evolve but not individuals What is actually changing when...

Physics
1.2K views

A battery of 20 cells each having e m f 1 8 V and internal...

Geometry
1.2K views

Solve Use 3 14 for Find the volume of the bushing shown below Round your...

Statistics
1.2K views

A football coach hears that a new exercise program will increase upper body strength better...

Accounting
1.2K views

Which of the following best defines stockholders' equity? resources owned by a business rights...

Accounting
1.2K views

Briefly explain with example the six characteristics of appropriateness of audit evidence 12:44 PM Describe...

Finance
1.2K views

A pension fund manager is considering three mutual funds. The first is a stock fund,...

Accounting
1.2K views

Exercise 9-6 (Algo) Working with More Than One Cost Driver [LO9-2, LO9-3, LO9-5, LO9-6] The...