Question
Catt corporation partial stockholder's equity consisted of the following on january 1 2019 Common stock, no par, $25 stated value 1,500,000 shares authorized 460,000 shares
Catt corporation partial stockholder's equity consisted of the following on january 1 2019
Common stock, no par, $25 stated value
1,500,000 shares authorized
460,000 shares issued and outstanding .........................$11,500,000
additional paid in capital
In excess of stated value common stock ........................$600,000
Retained earnings .................$4,100,000
Instructions
Prepare the appropiate journal entries for the following transactions in 2019. Please show computations. (gaap)
Feb 18 The board of directors declared a 0.50 cents cash dividend on coomon stock, payable on march 15, to stockholders of record.
Mar 15 Paid cash dividend to common stockholders
May 20 Declared a 10% stock dividend on the common stock, payable on june 15, to stockholders of record. The market value of Catt corporation's common stock was $45 per share.
Jun 15 Issued the shares for the stock dividend.
July 10 The board of directors declared a 2:1 stock split on all the common shares.
Sept 30 The board of directors declared a 0.20 cents cash dividend on common stock to stockholders of record.
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