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Mercer Corporation Has 200,000 Shares of $10 Stated Value No-Par

question 51

Essay

Mercer Corporation has 200,000 shares of $10 stated value no-par common stock authorized,and 160,000 shares were outstanding during 2009.The following transactions relate to cash dividends of Mercer Corporation for the year ended December 31,2009.Prepare entries in journal form without explanations to record the following transactions:
$\begin{array}{l}\text { June } 1 \text { Declared a semiannual cash dividend of } \$ 0.50 \text { per common share. } \\\text { July } 15 \text { Compiled the list of individual shareholders eligible for the dividend declared } \\\text { on June 1. } \\\text { Dec. } 1 \text { Declared a semiannual cash dividend of } \$ 0.50 \text { per common share to be paid on } \\\text { January 5, 2010. } \\\text { Compiled the list of individual shareholders eligible for the dividend declared } \\31 \text { Closed the Dividends account at year end. }\end{array}$
$Mercer Corporation has 200,000 shares of $10 stated value no-par common stock authorized,and 160,000 shares were outstanding during 2009.The following transactions relate to cash dividends of Mercer Corporation for the year ended December 31,2009.Prepare entries in journal form without explanations to record the following transactions: \begin{array}{l} \text { June } 1 \text { Declared a semiannual cash dividend of } \$ 0.50 \text { per common share. } \\ \text { July } 15 \text { Compiled the list of individual shareholders eligible for the dividend declared } \\ \text { on June 1. } \\ \text { Dec. } 1 \text { Declared a semiannual cash dividend of } \$ 0.50 \text { per common share to be paid on } \\ \text { January 5, 2010. } \\ \text { Compiled the list of individual shareholders eligible for the dividend declared } \\ 31 \text { Closed the Dividends account at year end. } \end{array}$

Definitions:

Hemidesmosome

Similar to half a desmosome, attaching epithelial cells to the basement membrane.

Capillary Walls

The thin, permeable barriers of capillaries through which exchange of gases, nutrients, and wastes occurs between blood and tissues.

Simple Squamous Epithelium

A solitary layer of flattened cells lining areas engaged in diffusion and filtration, including blood vessels and lung air sacs.

Keratinized Epithelium

A type of epithelial tissue that has become hardened or cornified through the incorporation of keratin, often found in the outer layers of the skin, hair, and nails.