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On January 1, 2018, MT Corporation, a publicly traded company, had these shareholders' equity accounts: Common shares (unlimited number of shares authorized, 231,000 shares issued)
On January 1, 2018, MT Corporation, a publicly traded company, had these shareholders' equity accounts: Common shares (unlimited number of shares authorized, 231,000 shares issued) 52,310,000 Retained camings 1,035,000 Accumulated other comprehensive income 127,000 During the year, the following transactions occurred: Jan. 15 Declared a $1 per share cash dividend to shareholders of record on January 31, payable February 15. Apr. 16 Declared a 10% stock dividend to shareholders of record on April 30, distributable May 15. On April 16, April 30, and May 15, the share prices were $16, $14.50, and $15, respectively. Oct. 1 Effected a 2-for-1 stock split. On October 1, the share price was $22. Dec. 31 Determined that net income for the year was $751,000. Record the above transactions, including any required entries to close dividends and net income. (If no entry is required, write "No Entry" for the account titles and enter of
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