On January 1, 2024, Accustart Corporation had 84,000 common shares, recorded at $659,400, and retained earnings of $1 million During the year, the following transactions occurred: Apr. 2 Issued 5,000 common shares at $20 per share. June 15 Aug. 21 Declared a cash dividend of $0.25 per share to common shareholders of record on June 30, payable on July 10. Declared a 5% stock dividend to common shareholders of record on September 5, distributable on September 20. The shares were trading for $22 a share on August 21, $24 on September 5, and $27 on September 20. Issued 2,900 common shares at $24 per share. Nov. 1 Dec. 20 Declared a cash dividend of $0.30 per share to common shareholders of record on December 31, payable on Januar 10.
On January 1, 2024, Accustart Corporation had 84,000 common shares, recorded at $659,400, and retained earnings of $1 million During the year, the following transactions occurred: Apr. 2 Issued 5,000 common shares at $20 per share. June 15 Aug. 21 Declared a cash dividend of $0.25 per share to common shareholders of record on June 30, payable on July 10. Declared a 5% stock dividend to common shareholders of record on September 5, distributable on September 20. The shares were trading for $22 a share on August 21, $24 on September 5, and $27 on September 20. Issued 2,900 common shares at $24 per share. Nov. 1 Dec. 20 Declared a cash dividend of $0.30 per share to common shareholders of record on December 31, payable on Januar 10.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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