Cash Dividends On January 15, the board of directors of Banks lncorporated declared a $0.25 per-share dividend on irs common stock to shareholders of record on January 31, payable on February 15 . Banks has 25,000 shares of stock authorized, 10,000 shares issued, and 8,000 shares outstanding- a) Enter the acrion to be taken at the three various dates; b) Enter the journal entry requined to recond the transaction. 1. Date of declaration: 2. Date of record: 3. Date of Payment: CLOSING ENTRIES FOR A CORPORATION Assume a corporation had the following account balances at the end of a fiscal year. (For simplicity, all expenses are assumed to be recorded in one expense account.) Write the Closing entries: 1) Revenues and Expenses are closed to Retained Earnings: 2) Dividends are closed to Retained Earnings: Analyze the Impact - show your work: 3) If the balance of Retained Earnings at the beginning of the year was $120,000, what is the ending balance? Analyze the lrapact - show your work: 3) If the balance of Retained Earnings at the beginning of the year was $120,000, what is the ending balance? 12 TREASURY STOCK Record the following journal entries to Treasury Stock for the company: 1) Lexus reacquired 1,000 shares of its own $5 par value common stock for $10 per share. 2) Lesus sold 100 shares of its treasury stock at $12 per share. 3) Lexus sold 100 shares of its treasury stock at $9 per share. 4) Lexus sold 100 shares of its treasury stock at $14 per share. 5) Lexus sold 100 shares of its treasury stock at $8 per share. 6) Lexus sold 100 shares of its trearury stock at $10 per share. Complete the T-Accounts for a) Treasury Stock and b) Paid in Capital - Treasury Stock and show what the balance is in each account after Transaction 6) abeve