Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

answer it correctly please! Question 4 of 5 - /20 Current Attempt in Progress On January 1, 2022, Bramble Corp. had the following stockholders' equity

answer it correctly please!
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Question 4 of 5 - /20 Current Attempt in Progress On January 1, 2022, Bramble Corp. had the following stockholders' equity accounts. Common Stock ($20 par value, 65,400 shares issued and outstanding) $1,308,000 Paid-in Capital in Excess of Par-Common Stock 192,000 Retained Earnings 615,000 During the year, the following transactions occurred. Feb. 1 Mar. 1 Apr. 1 July 1 Declared a $2 cash dividend per Share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February Announced a 2-for-1 stock split. Prior to the split, the market price per share was $40. 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 Determined that net income for the year was $365,000 31 Dec 1 31 - /20 E Question 4 of 5 Journalize the transactions and the closing entries for net income and dividends. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Credit Debit Account Titles and Explanation Question 4 of 5 - /20 4 . (To close net income) (To close stock dividends) (To cose cash dividends) Question 4 of 5 - /20 (To close cash dividends) eTextbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer Question Part Score --/6.66 (b) The parts of this question must be completed in order. This part will be available when you complete the part above. Question Part Score --/6.67 The parts of this question must be completed in order. This part will be available when you complete the part above. Question Part Score -76.67

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Digital Transformation In Accounting

Authors: Richard Busulwa, Nina Evans

1st Edition

0367362090, 9780367362096

More Books

Students also viewed these Accounting questions

Question

why you want to attend graduate school in general;

Answered: 1 week ago