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NOTE - Part B is requied A is done On January 1, 2021, Richetti Corporation had 78,000 common shares, recorded at $580,000, and retained earnings

NOTE - Part B is requied A is done

On January 1, 2021, Richetti Corporation had 78,000 common shares, recorded at $580,000, and retained earnings of $985,000. During the year, the following transactions occurred:

Apr. 2 Issued 4,600 common shares at $20 per share.
June 15 Declared a cash dividend of $0.35 per share to common shareholders of record on June 30, payable on July 10.
Aug. 21 Declared a 5% stock dividend to common shareholders of record on September 5, distributable on September 20. The shares were trading for $21 a share on August 21, $24 on September 5, and $25 on September 20.
Nov. 1 Issued 3,000 common shares at $24 per share.
Dec. 20 Declared a cash dividend of $0.40 per share to common shareholders of record on December 31, payable on January 10.

(a)

Correct answer iconYour answer is correct.

Record the above transactions for 2021. (Note: Closing entries are not required.) (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

choose a transaction date Apr. 2June 15July 10Aug. 21Sept. 20Nov. 1Dec. 20

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date Apr. 2June 15July 10Aug. 21Sept. 20Nov. 1Dec. 20

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date Apr. 2June 15July 10Aug. 21Sept. 20Nov. 1Dec. 20

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date Apr. 2June 15July 10Aug. 21Sept. 20Nov. 1Dec. 20

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date Apr. 2June 15July 10Aug. 21Sept. 20Nov. 1Dec. 20

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date Apr. 2June 15July 10Aug. 21Sept. 20Nov. 1Dec. 20

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date Apr. 2June 15July 10Aug. 21Sept. 20Nov. 1Dec. 20

enter an account title

enter a debit amount

enter a credit amount

enter an account title enter a debit amount enter a credit amount

eTextbook and Media

List of Accounts

Attempts: 2 of 3 used

(b)

What is the number of common shares at the end of the year?

Number of common shares enter a number of common shares

eTextbook and Media

List of Accounts

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Attempts: 0 of 3 used

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