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I need some help on part of this question. On January 1, 2014, Geffrey Corporation had the following stockholders equity accounts. Common Stock ($22 par
I need some help on part of this question.
On January 1, 2014, Geffrey Corporation had the following stockholders equity accounts.
Common Stock ($22 par value, 59,000 shares issued and outstanding) | $1,298,000 | |
Paid-in Capital in Excess of ParCommon Stock | 203,100 | |
Retained Earnings | 577,000 |
During the year, the following transactions occurred.
Feb. 1 | Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. | |
Mar. 1 | Paid the dividend declared in February. | |
Apr. 1 | Announced a 2-for-1 stock split. Prior to the split, the market price per share was $36. | |
July 1 | Declared a 11% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $15 per share. | |
31 | Issued the shares for the stock dividend. | |
Dec. 1 | Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2015. | |
31 | Determined that net income for the year was $309,000 |
I had to journalize these transactions but I couldnt complete the whole question
date | account titles and explanation | debit | credit |
feb 1 | cash dividends | 59000 | |
dividends payable | 59000 | ||
apr 1 | ?? | ||
jul 1 | stock dividends | 194700 | |
common stock dividends distributable | ?? | ||
paid-in capital in excess of par-common stock | ?? | ||
jul 31 | common stock dividends distributable | ?? | |
common stock | ?? | ||
dec 1 | cash dividends | ?? | |
dividends payable | ?? | ||
dec 31 | income summary | 309000 | |
retained earnings | 309000 | ||
retained earnings | 194700 | ||
stock dividends | 194700 | ||
retained earnings | ?? | ||
cash dividends | ?? |
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