Exercise 14-1 on january 1, guillen corporation had 90,000 shares of no-par common stock issued and outstanding. the stock has a stated value of $5 per share. during the year, the following occurred. apr. 1 issued 21,500 additional shares of common stock for $18 per share. 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 1,000 additional shares of common stock for $19 per share. 15 declared a cash dividend on outstanding shares of $1.90 per share to stockholders of record on december 31. (a) prepare the entries to record these transactions. (if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. record journal entries in the order presented in the problem. credit account titles are automatically indented when amount is entered. do not indent manually.)

The Journal entries are as follows:

(i) On April 1,

Cash A/c (21,500 × $18)     Dr. $387,000

To Additional paid in capital in excess of par                $279,500

To common stock (21,500 × $5)                                     $107,500                                                        

(To record the additional shares of common stock)

(ii) On June 15,

Cash dividend A/c (111,500 × $3)  Dr. $334,500

To dividend payable                                             $334,500

(To record the cash dividend declared)

(iii) On July 10,

Dividend payable A/c  Dr. $334,500

To cash A/c                                         $334,500

(To record the dividend paid)

(iv) On December 1,

Cash A/c (1,000 × $19)                 Dr. $19,000

To Additional paid in capital in excess of par             $14,000

To common stock (1,000 × $5)                                     $5,000                                                        

(To record the additional shares of common stock)

(v) On December 15,

Cash Dividend A/c (112,500 × $1.9) Dr. $213,750

To Dividend payable                                              $213,750

(To record the cash dividend declared)

answer; (c) communism and socialism;