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Can you help me with this. I have enter some of the answers. Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders' equity
Can you help me with this. I have enter some of the answers.
Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders' equity accounts. Common Stock ($10 par value, 79,400 shares issued and outstanding) Paid-in Capital in Excess of Par Value Retained Earnings $794,000 515,000 615,400 During the year, the following transactions occurred. Jan. 15 Declared a $0.60 cash dividend per share to stockholders of record on January 31, payable February 15. Feb. 15 Paid the dividend declared in January. Apr. 15 Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $12 per share. May 15 Issued the shares for the stock dividend. Dec. 1 Declared a $0.50 per share cash dividend to stockholders of record on December 15, payable January 10, 2015. Dec. 31 Determined that net income for the year was $448,400. Don't show me this message again for the assignment 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 Jan. 15 Feb. 15 Apr. 15 Account Titles and Explanation Debit Credit May 15 Dec. 1 Dec. 31 (To close net income) Dec. 31 (To close stock dividends) Dec. 31 (To close cash dividends) Don't show me this message again for the assignment 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 1/1 Bal. 5/15 12/31 Bal. Retained Earnings 1/1 Bal. 1/1 Bal. 12/31 12/31 12/31 Bal. Paid-in Capital in Excess of Par Value 1/15 12/31 12/31 Bal. Cash Dividends 1/15 12/31 Common Stock Dividends Distributable 4/15 12/31 Stock Dividends 4/15 12/31 Don't show me this message again for the assignment 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 Stockholders' Equity Paid-in Capital Capital Stock $ $ Don't show me this message again for the assignmentStep by Step Solution
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