On January 1, 2020, Ven Corporation had the following stockholders equity accounts. Common Stock (no par value,

Question:

On January 1, 2020, Ven Corporation had the following stockholders’ equity accounts.

Common Stock (no par value, 90,000 shares issued and outstanding) ................. $1,600,000
Retained Earnings ............................................................................................................................. 500,000

During the year, the following transactions occurred.

Feb. 1 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Announced a 3-for-1 stock split. Prior to the split, the market price per share was $36. Declared a 5% stock dividend to stockholders


Instructions

Prepare the stockholders’ equity section of the balance sheet at (a) March 31, (b) June 30, (c) September 30, and (d) December 31, 2020.

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Accounting Principles

ISBN: 978-1119411482

13th edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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