Answered step by step
Verified Expert Solution
Question
1 Approved Answer
9) all numbers are correct- just need help with the balance sheet On January 1, 2022, Wildhorse Corporation had the following stockholders' equity accounts. Common
9) all numbers are correct- just need help with the balance sheet
On January 1, 2022, Wildhorse Corporation had the following stockholders' equity accounts. Common Stock ($22 par value, 54,000 shares issued and outstanding) $1,188,000 Paid-in Capital in Excess of Par-Common Stock Retained Earnings During the year, the following transactions occurred. 199,000 626,000 Feb. 1 Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Apr. 1 July 1 31 Dec. 1 Paid the dividend declared in February. Announced a 2-for-1 stock split. Prior to the split, the market price per share was $35. Declared a 10% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $15 per share. Issued the shares for the stock dividend. Declared a $0.40 per share dividend to stockholders of record on December 15, payable January 5, 2023. 31 Determined that net income for the year was $321.500.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started