Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Cant figure out how to make the journal entries as well as preparing the stockholders equity for the second question. See Stock Dividend Daily Activity
Cant figure out how to make the journal entries as well as preparing the stockholders equity for the second question.
See Stock Dividend Daily Activity & Example 10.1 & 10.4 Children's Shepard Ltd. Is a service corporation that has been in business for 6 years. The equity portion of the balance sheet as of 12-31-18 is: Stockholders' Equity 12-31-18 Common stock - $20 par value, 100,000 shares authorized, 16,600 shares issued, and 14,800 shares outstanding Additional paid-in capital - Common stock Retained earings Less: Treasury Stock Total Stockholders' Equity $ 332,000 132,800 183,400 648,200 (50,400 597,800 July 1, 2019, the company issued 1.200 shares for $33,600. October 1, 2019 the company declared a 10% stock dividend. The stock is currently trading at $30 per share. a) Make the journal entries for both stock entries Date Account Debit Credit The net income for 2010 was 86.200 b) Prepare the Stockholders Equity 12-31-19 Stockholders' Equity 12-31-19 Stockholders' Equity 12-31-19 July 1, 2020, the company issued 400 shares for $12,800 October 1, 2020 the company declared a 35% stock dividend. The stock is currently trading at $33 per sharo c) Make the journal entries for both stock entries Debit Credit Date Account The net income for 2020 was 136,800 d) Prepare the stockholders Equity 12-31-20 Stockholders' Equity 12-31-20 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