1.Record the declaration of a cash dividend of $0.80 per share payable on the 110,000 shares of common stock outstanding

2.Record the entry on the date of record

3.Record the payment of the cash dividend

4. Record the entry to close dividends account

At December 31 the records of Kozmetsky Corporation provided the following selected and incomplete data: Common stock (par $2; no changes during the current year). Shares authorized, 5,000,000. Shares issued, ? ; issue price $8 per share. Shares held as treasury stock, 10,900 shares, cost $6 per share. Net income for the current year, $569,380. Common Stock account, $159,000. Dividends declared and paid during the current year, $2 per share. Retained Earnings balance, beginning of year, $890,000. Required: Complete the following: (Round "Earnings per share" to 2 decimal places.) Shares issued Shares outstanding The balance in Additional Paid-in Capital would be Earnings per share is Total dividends paid on common stock during the current year is Treasury stock should be reported in the stockholders' equity section of the balance sheet in the amount of Assume that the board of directors voted a 2-for-1 stock split. After the stock split, the paris value per share will be National Chocolate Corp. produces chocolate bars and snacks under the brand names Blast and Soothe. A press release contained the following information: March 5-National Chocolate Corp. today announced that its Board of Directors has declared a special "one-time" cash dividend of $0.80 per share on its 110,000 outstanding common shares. The dividend will be paid on April 29 to shareholders of record at the close of business on March 26. The Company's fiscal year will end April 30. Required: 1. Prepare any journal entries that National Chocolate Corp. should make on the four dates mentioned in press release. (If no entry is required for a transaction/date, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 Record the declaration of a cash dividend of $0.80 per share payable on the 110,000 shares of common stock outstanding. Note: Enter debits before credits. Date General Journal Debit Credit March 05