On January 1, Bramble Corp. had 61,200 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 10,350 additional shares of common stock for $13 per share.
June 15 Declared a cash dividend of $1.70 per share to stockholders of record on June 30.
July 10 Paid the $1.70 cash dividend.
Dec. 1 Issued 4,600 additional shares of common stock for $11 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 0 for the amounts. Round answers to 0 decimal places, e.g. 1,225.)
Apr. 1 Issued 10,350 additional shares of common stock for $13 per share.
June 15 Declared a cash dividend of $1.70 per share to stockholders of record on June 30.
July 10 Paid the $1.70 cash dividend.
Dec. 1 Issued 4,600 additional shares of common stock for $11 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 0 for the amounts. Round answers to 0 decimal places, e.g. 1,225.)
1 answer:
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Missing information attached along with the complete worksheet
Answer:
rent expense 1,700 debit
prepaid rent 1,700 credit
dep expense 350 debit
acc dep equip 350 credit
advertizing expense 1,400 debit
prepaid advertizing 1,400 credit
Explanation:
advertizing:
5,600 divide into 4 months = 1400 accrued per month
depreciaton:
42,000 / 10 years = 4,200
then we divide by 12 month: 350
