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i need help with this question asap. thank you! On January 1. 2018, Covington Corporation had 82,000 common shares. reconded at $589.000 and retained earninss
i need help with this question asap. thank you!
On January 1. 2018, Covington Corporation had 82,000 common shares. reconded at $589.000 and retained earninss of $1.064000 During the year, the following transactions occurred: Apr. 2 Issued 5,400 commoe shares at 520 per share June 15 Declared a cash dividend of $0.25 per share to common shareholders of recond on June 30. payable on July 10. Aug. 21 Declared a 5% stock dividend to common shareholders of record on September 5, distributable on Soptember 20. The shares were tradins for 522 a share on Aupust 21.524 on Segtember 5 and 527 on 5egtember20. Non 1 Istued 2,900 common shaces at 526 per share. Dec. 20 Declared a cach dividend of 5030 per thare to common shareholders of recond on December 31 , payable on January 10 (a) Record the abowe transactions for 2018. Notc Closing cetries are not required) Krndi acenunt 6tier art autometicelly indented amounts. Round enswers to O decimsl places es 5.275] Step by Step Solution
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