Instructions Jan 22 Apr 10 Jun. 6 Jul 5 Pald cash dividends of $0.07 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $26,355, Issued 73,000 shares of common stock for $23 per share. Sold all of the treasury stock for $26 por share Declared a 2% stock dividend on common stock, to be capitalized at the market price of the stock, which is $24 per share Issued the certificates for the dividend declared on July 5. Purchased 30,000 shares of treasury stock for $20 per share. Declared a $0.09-per-share dividend on common stock Closed the two dividends accounts to Retained Earrings Aug 15 Nov. 23 Dec 28 31 Required: a. Enter the January 1 balances in Taccounts for the stockholders' equity accounts asted. Also prepare T accounts for the fofowing: Paid in Capital from Sale of Treasury Stock, Stock Dividends Distributable: Stock Dividends. Cash Dividends. D. Journalize the entries to record the transactions and post to the eight selected accounts. No post rot is required in the journal, refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for joumal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit evitry when a credit amount is entered. Round your final answer to the nearest dollar Instructions Chart of Accounts Labels and Amount Descriptions T Accounts Journal Instructions $7,000,000 Morrow Enterprises Inc, manufactured bathroom figures. The stockholders.nguiltynecounts of Morrow Enterprises int with taimet on January 1, 2005, are as follows: Coenmen stock, $20 statod value (900,000 shares authorized, 300,000 shwas noved) Pald-In Capital in excess of Statud ywe--Common Stock Retained Earrings Treanusy Stock 122,500 shares, at a cost of 817 per here) 382.500 877.800 34,554,000 The foliowing stocked vansactions occurred during the year Jan 22 Poid cash dividende of $0.07 per Share on the common stock. The dividend had been property recorded when declived on December of the preceding fiscal year for $26.956 10 Issued 78.000 shares of common stock for $23 per share AD Apr. 10 1.679,000 Instructions Jan 22 Apr 10 Jun. 6 Jul 5 Pald cash dividends of $0.07 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $26,355, Issued 73,000 shares of common stock for $23 per share. Sold all of the treasury stock for $26 por share Declared a 2% stock dividend on common stock, to be capitalized at the market price of the stock, which is $24 per share Issued the certificates for the dividend declared on July 5. Purchased 30,000 shares of treasury stock for $20 per share. Declared a $0.09-per-share dividend on common stock Closed the two dividends accounts to Retained Earrings Aug 15 Nov. 23 Dec 28 31 Required: a. Enter the January 1 balances in Taccounts for the stockholders' equity accounts asted. Also prepare T accounts for the fofowing: Paid in Capital from Sale of Treasury Stock, Stock Dividends Distributable: Stock Dividends. Cash Dividends. D. Journalize the entries to record the transactions and post to the eight selected accounts. No post rot is required in the journal, refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for joumal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit evitry when a credit amount is entered. Round your final answer to the nearest dollar Instructions Chart of Accounts Labels and Amount Descriptions T Accounts Journal Instructions $7,000,000 Morrow Enterprises Inc, manufactured bathroom figures. The stockholders.nguiltynecounts of Morrow Enterprises int with taimet on January 1, 2005, are as follows: Coenmen stock, $20 statod value (900,000 shares authorized, 300,000 shwas noved) Pald-In Capital in excess of Statud ywe--Common Stock Retained Earrings Treanusy Stock 122,500 shares, at a cost of 817 per here) 382.500 877.800 34,554,000 The foliowing stocked vansactions occurred during the year Jan 22 Poid cash dividende of $0.07 per Share on the common stock. The dividend had been property recorded when declived on December of the preceding fiscal year for $26.956 10 Issued 78.000 shares of common stock for $23 per share AD Apr. 10 1.679,000
