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Can you please journalist the transactions and the closing entries for net income and dividends. Below are the list of accounts On January 1, 2022,

Can you please journalist the transactions and the closing entries for net income and dividends. image text in transcribed
image text in transcribed
image text in transcribed
Below are the list of accounts
image text in transcribed
image text in transcribed
On January 1, 2022, Sunland Corporation had the following stockholders' equity accounts. During the year, the following transactions occurred. Feb. 1 Declared a \$1 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split. Prior to the split, the market price per share was $36. July 1 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 $14 per share. 31 Issued the shares for the stock dividend. Dec. 1 Declared a $0,30 per share dividend to stockholders of record on December 15, payable January 5,2023. 31 Determined that net income for the year was $328,000. 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 O for the amounts. Record journal entries in the order presented in the problem.) (To close net income) (To close stock dividends) (To close cash dividends) Accumulated Depreciation Cash Cash Dividends Common Stock Common Stock Dividends Distributable Dividends Payable Income Summary Income Tax Expense Income Taxes Payable Interest Expense Interest Payable No Entry Operating Expenses Paid-in Capital in Excess of Par-Common Stock Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Paid-in Capital in Excess of Par-Common Stock Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Preferred Stock Retained Earnings Sales Revenue Stock Dividends Treasury Stock

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