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Problem 11-8A - EVERETT CORPORATION ? Stockholder?s Equity

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Problem 11-8A - EVERETT CORPORATION ? Stockholder?s Equity;On January 1, 2014, Everett Corporation had these stockholders? equity accounts.;Common Stock ($10 par value, 72,100 shares issued and outstanding);$721,000;Paid-in Capital in Excess of Par Value;500,800;Retained Earnings;687,600;During the year, the following transactions occurred.;Jan. 15;Declared a $0.50 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 $0.60 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 $439,900.;Warning;Required;1. Journalize the transactions;2. Enter the beginning balances and post the entries to the stockholders? equity T-accounts.;3. Prepare the stockholders? equity section of the balance sheet at December 31.;Ok;Cancel

 

Paper#79411 | Written in 18-Jul-2015

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