Solution-Everett corporation had these stockholders equity

Everett corporation had these stockholders equity accounts

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Reference no: EM131771987

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

Common Stock ($10 par value, 81,600 shares issued and outstanding)	$816,000
Paid-in Capital in Excess of Par Value	521,800
Retained Earnings	653,500

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 $12 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 $351,300.

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.)

Reference no: EM131771987

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Everett corporation had these stockholders equity accounts

Reference no: EM131771987

Reference no: EM131771987

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