Wagner Corporation Was Authorized to Issue 100,000 Shares of $12

question 9

Essay

Wagner Corporation was authorized to issue 100,000 shares of $12 par common stock. During 2013 Wagner issued 20,000 shares at a market price of $18 per share. On December 1, 2013 Wagner declared a cash dividend of $2.50 per share payable on December 30 to stockholders of record as of December 15.
Required:
a) Prepare the journal entry for the issuance of the 20,000 shares of stock. Assume an issue date of June 30, 2013.
b) Prepare the journal entries necessary on the dividend:
(1) declaration date.
(2) date of record.
(3) payment date.

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Definitions:

McCrae and Costa

Psychologists known for developing the Five-Factor Model of personality, which identifies five broad personality traits.

Big Five Dimensions

A model that outlines five broad dimensions used to describe human personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Jungian Theory

A psychological theory developed by Carl Jung that focuses on concepts such as the collective unconscious, archetypes, and the process of individuation.

Radical Behaviorism

A theory in psychology that emphasizes the importance of external behaviors in studying and treating psychological disorders, considering learned behaviors as the main drivers of action.