On January 1, Crane Corporation had 94,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. Issued 23,000 additional shares of common stock for $16 per share. 1 June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30. July 10 Paid the $3 cash dividend. Dec. 1 Issued 3,000 additional shares of common stock for $19 per share. 15 Declared a cash dividend on outstanding shares of $3.30 per share to stockholders of record on December 31.

On January 1, Crane Corporation had 94,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. Issued 23,000 additional shares of common stock for $16 per share. 1 June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30. July 10 Paid the $3 cash dividend. Dec. 1 Issued 3,000 additional shares of common stock for $19 per share. 15 Declared a cash dividend on outstanding shares of $3.30 per share to stockholders of record on December 31.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 13EB: Nutritious Pet Food Companys board of directors declares a large stock dividend (50%) on June 30...

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