On January 1, Guillen Corporation had 91,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following occurred. Apr. 1 Issued 20,000 additional shares of common stock for $16 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Issued 1,000 additional shares of common stock for $20 per share. 15 Declared a cash dividend on outstanding shares of $4.10 per share to stockholders of record on December 31. 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.)

Apr. 1 Issued 20,000 additional shares of common stock for $16 per share.

Dr Cash 320,000 (= 20,000 x $16)

    Cr Common stock 320,000

June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30.

Dr Retained earnings 42,875 (= 42,875 x $1)

    Cr Dividends payable 42,875

July 10 Paid the $1 cash dividend.

Dr Dividends payable 42,875

    Cr Cash 42,875

Dec. 1 Issued 1,000 additional shares of common stock for $20 per share.

Dr Cash 20,000 (= 1,000 x $20)

    Cr Common stock 20,000

Dec. 15 Declared a cash dividend on outstanding shares of $4.10 per share to stockholders of record on December 31.

Dr Retained earnings 179,887.50 (= 43,875 stocks x $4.10)

    Cr Dividends payable 179,887.50

in 2001, dell computer became the world’s largest personal computer vendor, continuing to

gain market share and post profits in an industry struggling with slumping sales and billions of

dollars in losses. dell sells 90% of its pcs directly to the final customer, largely bypassing the

reseller channel that accounts for most of the world’s pc sales. this direct customer relationship

is the key to dell’s business model, and provides distinct advantages over the indirect sales

model. dell’s direct relationship with the customer allows it to tailor its offerings to customer

needs, offer add-on products and services, and use the internet to offer a variety of customer

services. in addition, dell’s pcs are built to customers’ specifications upon receipt of an order,

giving dell additional advantages over indirect pc vendors who must try to forecast demand and

ship products based on those forecasts. dell’s direct sales and build-to-order model has achieved

superior performance in the pc industry in terms of inventory turnover, reduced overhead, cash

conversion, and return on investment (kraemer, et al., 2000).

explanation: