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11. On January 1, 2013, Greene Corporation had the following account balances in its shareholders' equity accounts. During 2013, Greene Corporation had several transactions relating
11. On January 1, 2013, Greene Corporation had the following account balances in its shareholders' equity accounts.
During 2013, Greene Corporation had several transactions relating to common stock. Required: Record the above transactions and events in journal entry format.
Please include all calculations and dates :)
Common stock, $1 par, 250,000 shares issued Paid-in capitalexcess of par, common Paid-in capitalexcess of par, preferred Preferred stock, $100 par, 10,000 shares outstanding Retained earnings Treasury stock, at cost, 5,000 shares 250,000 500,000 100,000 1,000,000 2,000,000 25,000 April 10: January 15: Declared a property dividend of 100,000 shares of Slowdown Company (book value $10 per share, market value $9 per share). February 17: Distributed the property dividend. A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. The market value of the stock was $4 on this date. Declared and distributed a 3% stock dividend on outstanding common stock; market value per share, $5. December 1: Declared a 50 cents per share cash dividend on the outstanding common shares. December 20: Paid the cash dividend. July 18Step by Step Solution
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