11 8A Problem 11 8A On January 1, 2014, Everett Corporation had these stockholders equity accounts Common Stock ($10par value,75,700shares issued and outstanding) $757,000 Paid in Capital in Excess of Par Value 491,300 Retained Earnings 691,400 During the year, the following transactions occurred Jan 15 Declared a $0 40cash dividend per share to stockholders of record on January 31, payable February 15 Feb 15 Paid the dividend declared in January Apr 15 Declared a10 stock dividend to stockholders of record on April 30, distributable May 15 On April 15, the market price of the stock was $15per share May15 Issued the shares for the stock dividend Dec 1 Declared a $0 60per share cash dividend to stockholders of record on December 15, payable January 10, 2015 Dec 31 Determined that net income for the year was $445,800 Warning Don't show me this message again for the assignment Ok Cancel 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 ) Date Account Titles and Explanation Debit Credit Jan 15Feb 15Apr 15May 15Dec 1Dec 31 Jan 15Feb 15Apr 15May 15Dec 1Dec 31 Jan 15Feb 15Apr 15May 15Dec 1Dec 31 Jan 15Feb 15Apr 15May 15Dec 1Dec 31 Jan 15Feb 15Apr 15May 15Dec 1Dec 31 Jan 15Feb 15Apr 15May 15Dec 1Dec 31 (To close net income) Jan 15Feb 15Apr 15May 15Dec 1Dec 31 (To close stock dividends) Jan 15Feb 15Apr 15May 15Dec 1Dec 31 (To close cash dividends) Warning Don't show me this message again for the assignment Ok Cancel Show List of Accounts Link to Text 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) Common Stock 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal Retained Earnings 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal Paid in Capital in Excess of Par Value 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal Cash Dividends 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal Common Stock Dividends Distributable 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal Stock Dividends 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal Warning Don't show me this message again for the assignment Ok Cancel Show List of Accounts Link to Text Link to Text Prepare the stockholders equity section of the balance sheet at December 31 EVERETT CORPORATION Partial Balance Sheet December 31, 2014 Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong term InvestmentsLong term LiabilitiesNet Income (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long term InvestmentsTotal Long term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid in CapitalPaid in CapitalCapital StockTotal Capital StockTotal Paid in CapitalTotal Paid in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid in Capital Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong term InvestmentsLong term LiabilitiesNet Income (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long term InvestmentsTotal Long term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid in CapitalPaid in CapitalCapital StockTotal Capital StockTotal Paid in CapitalTotal Paid in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid in Capital Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong term InvestmentsLong term LiabilitiesNet Income (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long term InvestmentsTotal Long term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid in CapitalPaid in CapitalCapital StockTotal Capital StockTotal Paid in CapitalTotal Paid in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid in Capital $ Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong term InvestmentsLong term LiabilitiesNet Income (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long term InvestmentsTotal Long term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid in CapitalPaid in CapitalCapital StockTotal Capital StockTotal Paid in CapitalTotal Paid in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid in Capital Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong term InvestmentsLong term LiabilitiesNet Income (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long term InvestmentsTotal Long term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid in CapitalPaid in CapitalCapital StockTotal Capital StockTotal Paid in CapitalTotal Paid in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid in Capital Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong term InvestmentsLong term LiabilitiesNet Income (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long term InvestmentsTotal Long term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid in CapitalPaid in CapitalCapital StockTotal Capital StockTotal Paid in CapitalTotal Paid in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid in Capital $ Warning Don't show me this message again for the assignment Ok Cancel Show List of Accounts Link to Text Link to Text Link to Text Calculate the payout ratio and return on common stockholders equity (Round answers to 1 decimal place, e g 12 5 ) Payout ratio Return on common stockholders equity Warning Don't show me this message again for the assignment Ok Cancel Show List of Accounts Link to Text Link to Text Question Attempts 0 of 3 used Save for later Submit Answer Copyright 2000 2016 by John Wiley Sons, Inc or related companies All rights reserved Tooltip JS control id intjsTooltip 1 Warning Your instructor has reset your attempts for this question The question will reload in the original state Click Continue to proceed with the question CONTINUE img height 1 width 1 alt src googleads g doubleclick net pagead viewthroughconversion 944609404 value 0 guid ON script 0 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11-8A Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders equity accounts. Common Stock ($10par value,75,700shares issued and outstanding) $757,000 Paid-in Capital in

11-8A

Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders equity accounts.

Common Stock ($10par value,75,700shares issued and outstanding)	$757,000
Paid-in Capital in Excess of Par Value	491,300
Retained Earnings	691,400

During the year, the following transactions occurred.

Jan. 15	Declared a $0.40cash dividend per share to stockholders of record on January 31, payable February 15.
Feb.15	Paid the dividend declared in January.
Apr.15	Declared a10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $15per share.
May15	Issued the shares for the stock dividend.
Dec.1	Declared a $0.60per share cash dividend to stockholders of record on December 15, payable January 10, 2015.
Dec.31	Determined that net income for the year was $445,800.

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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.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 15Feb. 15Apr. 15May 15Dec. 1Dec. 31

Jan. 15Feb. 15Apr. 15May 15Dec. 1Dec. 31

Jan. 15Feb. 15Apr. 15May 15Dec. 1Dec. 31


Jan. 15Feb. 15Apr. 15May 15Dec. 1Dec. 31

Jan. 15Feb. 15Apr. 15May 15Dec. 1Dec. 31

Jan. 15Feb. 15Apr. 15May 15Dec. 1Dec. 31

(To close net income)
Jan. 15Feb. 15Apr. 15May 15Dec. 1Dec. 31

(To close stock dividends)
Jan. 15Feb. 15Apr. 15May 15Dec. 1Dec. 31

(To close cash dividends)

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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)

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Prepare the stockholders equity section of the balance sheet at December 31.

EVERETT CORPORATION Partial Balance Sheet December 31, 2014
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid-in Capital
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid-in Capital
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid-in Capital
	$
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid-in Capital

Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid-in Capital

Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid-in Capital	$