For part 1 there are 12 journal entries required:

And for the second Part:

5 $ 86,000 363,600 1 points 1,485,000 Pala-in capital: Preferred stock, 9.0%, 86,000 shares at $1 par Common stock, 363,600 shares at $1 par Paid-in capital-excess of par, preferred Paid-in capital-excess of par, common Retained earnings Treasury stock, at cost; 3,600 common shares Total shareholders' equity Skipped 2,535,000 8,645,000 (43,200) eBook $ 13,071,400 Hint During 2018, several events and transactions affected the retained earnings of Consolidated Paper. Required: 1. Prepare the appropriate entries for these events. Print References References a. On March 3 the board of directors declared a property dividend of 230,000 shares of Leasco International com stock that Consolidated Paper had purchased in January as an investment (book value: $674,000). The investm shares had a fair value of $3 per share and were distributed March 31 to shareholders of record March 15. b. On May 3 a 5-for-4 stock split was declared and distributed. The stock split was effected in the form of a 25% st dividend. The market value of the $1 par common stock was $12 per share. c. On July 5 a 2% common stock dividend was declared and distributed. The market value of the common stock w $12 per share. d. On December 1 the board of directors declared the 9.0% cash dividend on the 86,000 preferred shares, payabl December 28 to shareholders of record December 20. e. On December 1 the board of directors declared a cash dividend of $0.40 per share on its common shares, paya on December 28 to shareholders of record December 20. 2. Prepare the shareholders' equity section of the balance sheet for Consolidated Paper, Inc., at December 31, 201 income for the year was $760,000. Complete this question by entering your answers in the tabs below. Required Required 2 1 Prepare the appropriate entries for these events. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Journal entry worksheet 2. 3 4 5 6 7 8 1 12 > ..... Record any necessary adjustments to the Leasco International stock account as a result of the property dividend declaration. Nato star dobite befa co orodita Journal entry worksheet Record the declaration of the property dividend. Note: Enter debits before credits. Journal entry worksheet Record the entry on the date of record. Mata Catardobite before radite Journal entry worksheet Record the distribution of the property dividend. Journal entry worksheet Record the declaration and distribution of the stock split effected in the form of a stock dividend. Note: Debit Paid-in capital - excess of par, common rather than Retained earnings. Note: Enter debits before credits. Journal entry worksheet Record entry for cash dividend on preferred stock on date of declaration. Note: Enter debits before credits. General Journal Debit Credit Date December 01 Journal entry worksheet Record the entry on the date of record. Note: Enter debits before credits. General Journal Debit Credit Date December 20 > ... Journal entry worksheet Record the declaration of cash dividends to common shareholders. Note: Enter debits before credits. General Journal Debit Credit Date December 01 Journal entry worksheet 1 ... 5 6 7 8 9 Record the payment of cash dividends to common shareholders. Note: Enter debits before credits. General Journal Debit Credit Date December 28 1 Required Required 2 Prepare the shareholders' equity section of the balance sheet for Consolidated Paper, Inc. at December 31, 2018. Net income for the year was $760,000. (Negative amounts should be indicated by a minus sign.) Show less CONSOLIDATED PAPER, INC., [Shareholders' Equity section] December 31, 2018 Total shareholders' equity $ 0