CORPORATION

1. On April 1, 20x1, the board of directors of PEAL LOUD RINGING OF BELLS Co. declared 50 dividends per share to shareholders of record as of April 15, 20x1 for distribution on May 1, 20x The shareholders equity of PEAL as of April 1, 20x1 is as follows:

Share capital, authorized capital 20,000 shares, 100 par	1,600,000
Subscribed share capital	440,000
Share premium	200,000
Retained earnings	908,000
Treasury shares (at cost of 120 per share)	(288,000)
Other components of equity	140,000
Total shareholders equity	3,000,000

Requirement: Provide all the pertinent entries.