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On January 1, Grouper Corp. had 61,600 shares of no-par common stock issued and outstanding. The...

On January 1, Grouper Corp. had 61,600 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 12,150 additional shares of common stock for $13 per share.
June 15 Declared a cash dividend of $1.65 per share to stockholders of record on June 30.
July 10 Paid the $1.65 cash dividend.
Dec. 1 Issued 5,400 additional shares of common stock for $13 per share.
Dec. 15 Declared a cash dividend on outstanding shares of $1.75 per share to stockholders of record on December 31.
(a) Prepare the entries, if any, on each of the three dates that involved dividends.
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Answer #1

The entries are as below:-

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