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Need Part B please. Problem 11-4A (Part Level Submission) On January 1, 2017, Geffrey Corporation had the following stockholders' equity accounts. Common Stock ($20 par
Need Part B please.
Problem 11-4A (Part Level Submission) On January 1, 2017, Geffrey Corporation had the following stockholders' equity accounts. Common Stock ($20 par value, 66,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings 205,000 603,000 During the year, the following transactions occurred. Feb. 1 Mar. 1 Apr. 1 July 1 Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February. Announced a 2-for-1 stock split. Prior to the split, the market price per share was $40 Declared a 10% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $14 per share. Issued the shares for the stock dividend. 31 Dec. 1 Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2018. 31 Determined that net income for the year was $340,000Step by Step Solution
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