help accounting

Question

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.

Answer 1

1/15. DR. Dividends (.60X80,800) 55,480

CR. Dividends Payable 55480

2/15. DR. Div Pay. 55480

CR. Cash 55480

For the stock dividend on declaration you take the amount out of Retained Earnings, Record the par as common stock dividends distributable , and any additional PIC from the current market share on declaration date to par value

4/15 DR. Retained Earnings (.10X80,800X$15) 121,200

CR. Common Stock Div Distr. (8080X$10) 80,800

CR. PIC in excess of par (8080 X (15-10) 40,400

5/15 upon distribution you are removing it form DIv Dist to actual common stock. note your outstanding shares will go up. New outstanding shares are now 88,880

DR. Common Stock Div Dist 80,800

CR. Common Stock 80,800

12/31? - Declare on outstanding shares as of 12/15 so based on 88,880

DR. Dividends (88,880 X .50) $44,440

CR. Div Payable $44,440

The last one is just telling you Net Income not sure if you have another part.