Nash Corporation has the following capital structure at the beginning of the year: 4% Preferred stock, $50 par value, 20,000 shares authorized, 6,000 shares issued and outstanding Common stock, $10 par value, 60,000 shares authorized, 37,000 shares issued and outstanding Paid-in capital in excess of par Total paid-in capital Retained earnings Total stockholders' equity $300,000 370,000 114,000 784,000 432,000 $1,216,000 Record the following transactions which occurred consecutively. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 1. 2. 3. A total cash dividend of $90,000 was declared and payable to stockholders of record. Record dividends payable on common and preferred stock in separate accounts. A 15% common stock dividend was declared. The average fair value of the common stock is $24 a share. Assume that net income for the year was $130,000 (record the closing entry) and the board of directors appropriated $67,000 of retained earnings for plant expansion. 1. 2. A total cash dividend of $90,000 was declared and payable to stockholders of record. Record dividends payable on common and preferred stock in separate accounts. A 15% common stock dividend was declared. The average fair value of the common stock is $24 a share. Assume that net income for the year was $130,000 (record the closing entry) and the board of directors appropriated $67,000 of retained earnings for plant expansion. 3. No. Account Titles and Explanation Debit Credit Question 18. List Of Accounts - G... 1. edugen.wileyplus.com/edugen/shared/assi... a 2. 3. (To record the closing entries.) Bonds Payable Buildings Cash Common Stock Common Stock Dividend Distributable Debt Investments Dividends Payable Discount on Bonds Payable Equipment Equity Investments Income Summary Land Legal Fees Expense No Entry Organization Expense Paid-in Capital from Treasury Stock Paid-in Capital in Excess of Par - Common Stock Paid-in Capital in Excess of Par - Preferred Stock Paid-in Capital in Excess of Stated Value - Common Stock Preferred Stock Property Dividends Payable Retained Earnings Retained Earnings Appropriated for Plant Expansion Share Capital-Ordinary Share Capital-Preference Share Premium-Conversion Equity Share Premium-Ordinary Share Premium-Preference Treasury Stock Unamortized Bond Issue Costs Unrealized Holding Gain or Loss -Income (To record appropriated retained earnings.) SHOW LIST OF ACCOUNTS Construct the stockholders' equity section incorporating all the above information. NASH CORPORATION Balance Sheet (Partial) Construct the stockholders' equity section incorporating all the above information. NASH CORPORATION Balance Sheet (Partial) $ > $
