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On January 1, 2012, Kristen Corporation had the following stockholders equity accounts. Common Stock ($22 par value, 51,000 shares issued and outstanding) $1,122,000 Paid-in Capital
On January 1, 2012, Kristen Corporation had the following stockholders equity accounts.
Common Stock ($22 par value, 51,000 shares issued and outstanding) | $1,122,000 | |
Paid-in Capital in Excess of ParCommon Stock | 201,700 | |
Retained Earnings | 630,200 |
During the year, the following transactions occurred.
Feb. 1 | Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. | |
Mar. 1 | Paid the dividend declared in February. | |
Apr. 1 | Announced a 2-for-1 stock split. Prior to the split, the market price per share was $36. | |
July 1 | Declared a 12% 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. | |
31 | Issued the shares for the stock dividend. | |
Dec. 1 | Declared a $0.40 per share dividend to stockholders of record on December 15, payable January 5, 2013. | |
31 | Determined that net income for the year was $384,000. |
Prepare a stockholders equity section at December 31
KRISTEN CORPORATION Balance Sheet (Partial) December 31, 2012
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