On January 1, 20--, Dover Companys retained earnings accounts had the following balances:

Appropriated for printing press	$50,000
Unappropriated retained earnings	800,000
	$850,000

During the year ended December 31, 20--, Dover completed the following selected transactions:

Transactions:
Mar.	15	Declared a semiannual dividend of $0.30 per share on preferred stock and $0.40 per share on common stock to shareholders of record on April 5, payable on April 10. Currently, 5,000 shares of $10 par preferred stock and 30,000 shares of $2 par common stock are outstanding.
Apr.	10	Paid the cash dividend.
Sept.	15	Declared semiannual dividend of $0.30 per share on preferred stock and $0.40 per share on common stock to shareholders of record on October 5, payable on October 10.
Oct.	10	Paid the cash dividend.
Nov.	10	Board of directors declared a two-for-one common stock split.
Dec.	31	Net income for 20-- was $135,000. Closed the income summary account.
	31	Closed the cash dividends account.

Required:

1.	Prepare journal entries for the transactions.
2.	Post all entries affecting the appropriated and unappropriated retained earnings accounts to T accounts.
3.	Prepare a statement of retained earnings for the year ended December 31, 20--.

Prepare journal entries for the transactions. Additional Instruction

General Journal Instructions

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GENERAL JOURNAL

	DATE	ACCOUNT TITLE	POST. REF.	DEBIT	CREDIT
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13		Closing Entries
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2. Post all entries affecting the appropriated and unappropriated retained earnings accounts to T accounts.

T Accounts Instructions

Retained EarningsAppropriated
		Bal.	50,000

Retained EarningsUnappropriated
		Bal.	800,000
Bal.		Bal.

3. Prepare a statement of retained earnings for the year ended December 31, 20--. Additional Instructions

Dover Company

Statement of Retained Earnings

For Year Ended December 31, 20--

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