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Question
E11-13
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On January 1, Armada Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred.
Apr. 1
Issued 15,000 additional shares of common stock for $17 per share.
June 15
Declared a cash dividend of $1 per share to stockholders of record on June 30.
July 10
Paid the $1 cash dividend.
Dec. 1
Issued 2,000 additional shares of common stock for $19 per share.
Dec. 15
Declared a cash dividend on outstanding shares of $1.20 per share to stockholders of record on December 31.
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Your answer is partially correct. Try again.
Prepare the entries, if any, on each of the three dividend dates.
Date
Account/Description
Debit
Credit
June 15
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July 10
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Dec. 15
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