On January 1, Steff Corporation had 80,000 shares of no-par
common stock issued. 5,000 shares are held as treasury stock. The stock has a stated
value of $5 per share. During the year, the following transactions occurred.
Apr. 1 Issued
12,000 additional shares of common stock for $18 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 Purchased
7,000 additional shares of common stock for $17 per share.
Dec. 15 Declared a
cash dividend on outstanding shares of $1.20 per share to shareholders
of record on December 31.
Prepare the entries, if any, on
each of the dividend dates.