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On January 1 , 2 0 2 2 , Oriole Company had the following stockholders' equity accounts. Common Stock ( $ 1 4 par value,
On January Oriole Company had the following stockholders' equity accounts.
Common Stock $ par value, shares issued and outstanding
Paidin Capital in Excess of ParCommon Stock
Retained Earnings
During the year, the following transactions occurred.
Jan.
Declared a $ cash dividend per share to stockholders of record on January payable
February
Feb. Paid the dividend declared in January.
Apr. Declared a stock dividend to stockholders of record on April distributable May On
April the market price of the stock was $ per share.
May Issued the shares for the stock dividend.
July Announced a for stock split. The market price per share prior to the announcement was
$The new par value is $
Dec. Declared a $ per share cash dividend to stockholders of record on December payable
January
Dec. Determined that net income for the year was $
Journalize the transactions and the closing entries for net income and dividends. Record journal
entries in the order presented in the problem. 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 for the amounts.
To close net income
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