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I need part B Exercise 244 (Part Level Submission) Nash's Trading Post, LLC's stockholders' equity section at December 31, 2019, appears below: Stockholder's equity Paid-in
I need part B
Exercise 244 (Part Level Submission) Nash's Trading Post, LLC's stockholders' equity section at December 31, 2019, appears below: Stockholder's equity Paid-in capital Common stock, $10 par, 60,000 outstanding Paid-in capital in excess of par $600,000 160,000 Total paid-in capital $760,000 Retained earnings 150,000 Total stockholder's equity $910,000 On June 30, 2020, the board of directors of Nash's Trading Post, LLC declared a 15% stock dividend, payable on July 31, 2020, to stockholders of record on July 15, 2020. The fair value of Nash's Trading Post, LLC's stock on June 30, 2020, was $16 On December 1, 2020, the board of directors declared a 2-for-1 stock split effective December 15, 2020. Nash's Trading Post, LLC's stock was selling for $18 on December 1, 2020, before the stock split was declared. Par value of the stock was adjusted. Net income for 2020 was $220,000 and there were no cash dividends declared. (a) Your answer correct. Prepare the journal entries on the appropriate dates to record the stock dividend and the stock split. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order in which they must have occurred.) Credit Account Titles and Explanation Debit Date 6/30/17 Stock Dividends 144,000 90,000 Common Stock Dividends Distributable 54,000 Paid-in Capital in Excess of Par Value-Common St 7/15/17 No Entry No Entry 90,000 Common Stock Dividends Distributable 7/31/17 Common Stock 90,000 12/1/17 No Entry 0 No Entry 12/15/17 No Entry No Entry Click if you would like to Show Work for this question: Open Show Work (b) Fill in the amount that would appear in the stockholders' equity section for Nash's Trading Post, LLC at December 31, 2020, for the following items: Common stock 1. $ Number of shares outstanding 2. Par value per share 3. $ Paid-in capital in excess of par $ 4. Retained earnings 5. $ 6. Total stockholders' equity $ Open Show Work Click if you would like to Show Work for thisStep by Step Solution
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