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Prepare the entries to record these transactions

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Reference no: EM132782022

Question - On January 1, Cullumber Corporation had 94,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $7 per share. During the year, the following occurred.

Apr. 1 Issued 23,000 additional shares of common stock for $19 per share.

June 15 Declared a cash dividend of $2 per share to stockholders of record on June 30.

July 10 Paid the $2 cash dividend.

Dec. 1 Issued 1,000 additional shares of common stock for $19 per share.

Dec. 15 Declared a cash dividend on outstanding shares of $1.80 per share to stockholders of record on December 31.

Required - Prepare the entries to record these transactions.

Reference no: EM132782022

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