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Stockholders' Equity issue dividend payment JEs

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Buttercup Corporation issued 340 shares of $12 par value common stock for $6,120. Prepare Buttercup' journal entry. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)

Description/Account Debit Credit


Wilco Corporation has the following account balances at December 31, 2012.

Common stock, $5 par value $541,150
Treasury stock 91,720
Retained earnings 2,352,810
Paid-in capital in excess of par 1,322,630
Prepare Wilco's December 31, 2012, stockholders' equity section.

Stockholders' Equity
December 31, 2012

Total paid-in capital
Total stockholders' equity


Woolford Inc. declared a cash dividend of $1.08 per share on its 2.10 million outstanding shares. The dividend was declared on August 1, payable on September 9 to all stockholders of record on August 15. Prepare the journal entries necessary on those three dates. (If no entry is required, enter No Entry as the Description and 0 as the amount.)

Date Description/Account Debit Credit

Aug. 1
Aug. 15
Sep. 9

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Solution Summary

Your tutorial gives instructional notes and the journal entries needed. Click in cells to see computations.