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Its a long question The stockholders' equity accounts of Blue Spruce Corp, on January 1. 2022. were as follows. During 2022, the corporation had the
Its a long question
The stockholders' equity accounts of Blue Spruce Corp, on January 1. 2022. were as follows. During 2022, the corporation had the following transactions and ewents pertaining to its stocktolders' equity. During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity: Feb. 1 Issued 13,000 shares of common stock for $78,000. Mar. 20 Purchased 2,600 additional shares of common treasury stock at $7 per share. Dct. 1 Declared a 7% cash dividend on preferred stock, payable November 1. Vov. 1 Paid the dividend declared on October 1. Dec. 1 Declared a 50.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 20: Dec. 31 Determined that net income for the year was $728,000. Paid the dividend declared on December 1 . Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings) (Record entries in the order displayed in the problem statement. Credit account tities are automatically indented when amount is entered. Do not indent manualik. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 0 decimal places, es. 5.275. Question 1 of 4 14 (To record net income) (To close cash dividends) (To record payment of cash dividends payable) Step by Step Solution
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