Shawna N.

asked • 05/19/15

stock holders equity accounts


On January 1, 2014, Everett Corporation had these stockholders’ equity accounts.

Common Stock ($10 par value, 80,800 shares issued and outstanding) $808,000
Paid-in Capital in Excess of Par Value 512,200
Retained Earnings 699,800

During the year, the following transactions occurred.

Jan. 15 Declared a $0.60 cash dividend per share to stockholders of record on January 31, payable February 15.
Feb. 15 Paid the dividend declared in January.
Apr. 15 Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $15 per share.
May 15 Issued the shares for the stock dividend.
Dec. 1 Declared a $0.50 per share cash dividend to stockholders of record on December 15, payable January 10, 2015.
Dec. 31 Determined that net income for the year was $418,700.






Journalize the transactions. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.)


I am having problems figure out these 3 questions.
Apr. 15 Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $15 per share.
May 15 Issued the shares for the stock dividend.
Dec. 1 Declared a $0.50 per share cash dividend to stockholders of record on December 15, payable January 10, 2015
 
Can someone walk me through this?

1 Expert Answer

By:

Sam L H. answered • 10/09/15

Knowledgeable Accounting and Finance Tutor

Liz K.

how do you get 44,440 for the $0.50 cash dividend on Dec. 1?
Report

12/11/19

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