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Question:Question:On January 1, 2014, Geffrey Corporation had the following stockholders' equity accounts.

Common Stock ($22par value,64,000 shares issued and outstanding)$1,408,000

Paid-in Capital in Excess of Par?Common Stock190,900

Retained Earnings566,700

During the year, the following transactions occurred.

Feb.1 Declared a$1cash dividend per share to stockholders of record on February 15, payable March 1.

Mar.1Paid the dividend declared in February.

Apr.1Announced a 2-for-1 stock split. Prior to the split, the market price per share was$37.

July1Declared a14%stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was$15per share.

31Issued the shares for the stock dividend.

Dec.1Declared a$0.50per share dividend to stockholders of record on December 15, payable January 5, 2015.

31Determined that net income for the year was$388,000.

Your answer is correct.(IMAGE ON LEFT BELOW)

Journalize the transactions and the closing entries for net income and dividends.(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 0 for the amounts. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

Your answer is partially correct.Try again.(IMAGE ON RIGHT BELOW)

Enter the beginning balances, and post the entries to the stockholders' equity accounts. (Note:Open additional stockholders' equity accounts as needed.)(Post entries in the order of journal entries presented in the previous part.)

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