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Prepare the entries on each of the three dates

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Question - On January 1, Pronghorn Corp had 62,200 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 14,850 additional shares of common stock for $13 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 6,600 additional shares of common stock for $11 per share.

Dec. 15 Declared a cash dividend on outstanding shares of $1.70 per share to stockholders of record on December 31.

Required - Prepare the entries, if any, on each of the three dates that involved dividends.

Reference no: EM133159584

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