On March 1, 2014, Kissell Corporation began operations with a charter from the state that authorized 100,000 shares of $4 par value common stock. Over the next quarter, the company engaged in the transactions that follow.
| Mar.1 | Issued 30,000 shares of common stock, $200,000. |
| 2 | Paid fees associated with obtaining the charter and starting up and organizing the corporation, $24,000. |
| Apr.10 | Issued 13,000 shares of common stock, $130,000. |
| 15 | Purchased 5,000 shares of common stock, $50,000. |
| May 31 | The board of directors declared a $0.20 per share cash dividend to be paid on June 15 to shareholders of record on June 10. |
Record the T accounts for Dividends and Dividends Payable using the information above.
An option for a customer to purchase additional goods at a discount from the list price is only a performance obligation if the discount is a material right that the customer would not receive otherwise.
(a) True
(b) False
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