Reference no: EM131262322
On January 1, 2014, Everett Corporation had these stockholders’ equity accounts. Common Stock ($10 par value, 82,700 shares issued and outstanding) $827,000 Paid-in Capital in Excess of Par Value 488,100 Retained Earnings 676,600 During the year, the following transactions occurred. Jan. 15 Declared a $0.40 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 $14 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 $429,500.
Journalize the transactions
Enter the beginning balances and post the entries to the stockholders’ equity T-accounts. (Post entries in the order of journal entries posted in the previous part)
Prepare the stockholders’ equity section of the balance sheet at December 31.
Calculate the payout ratio and return on common stockholders’ equity. (Round answers to 1 decimal place, e.g. 12.5%.)
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Prepare the stockholders equity section of balance sheet
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: On January 1, 2014, Everett Corporation had these stockholders’ equity accounts. Common Stock ($10 par value, 82,700 shares issued and outstanding) $827,000 Paid-in Capital in Excess of Par Value 488,100 Retained Earnings 676,600 During the year, the..
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