Upon organization on January 1,2014,Cuke Inc.was authorized to issue 200,000 shares of $10 par common stock in multiples of 100 shares.During 2014,110,000 shares were sold at $65 per share;6,000 shares were later reacquired as treasury stock at $72 per share.A stock split of 2-for-1 on all issued shares was approved on December 31,2014.
Provide the entries to record the declaration and payment of the dividends on December 4,2015.

Question

Upon organization on January 1,2014,Cuke Inc.was authorized to issue 200,000 shares of $10 par common stock in multiples of 100 shares.During 2014,110,000 shares were sold at $65 per share;6,000 shares were later reacquired as treasury stock at $72 per share.A stock split of 2-for-1 on all issued shares was approved on December 31,2014.
  Provide the entries to record the declaration and payment of the dividends on December 4,2015.

Quizplus · Accepted Answer

The Answer of Upon organization on January 1,2014,Cuke Inc.was authorized to issue 200,000 shares of $10 par common stock in multiples of 100 shares.During 2014,110,000 shares were sold at $65 per share;6,000 shares were later reacquired as treasury stock at $72 per share.A stock split of 2-for-1 on all issued shares was approved on December 31,2014.
  Provide the entries to record the declaration and payment of the dividends on December 4,2015.

Upon Organization on January 1,2014,Cuke Inc