Question
On January 1, 2021, Ridgewood Corporation had 84,000 common shares, recorded at $659,000, and retained earnings of $1,049,000. During the year, the following transactions occurred:
On January 1, 2021, Ridgewood Corporation had 84,000 common shares, recorded at $659,000, and retained earnings of $1,049,000. During the year, the following transactions occurred:
Apr. 2 Issued 5,000 common shares at $20 per share.
June 15 Declared a cash dividend of $0.25 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 $22 a share on August 21, $24 on September 5, and $27 on September 20.
Nov. 1 Issued 2,900 common shares at $24 per share.
Dec. 20 Declared a cash dividend of $0.30 per share to common shareholders of record on December 31, payable on January 10.
please fill in the blank spaces, thankyou
(a) 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 Ofor the amounts.) Date Account Titles and Explanation Debit Credit Apr. 2 Cash 100000 Common Shares 100 June 15 Cash 22250 Dividends Payable 2: Aug. 21Step by Step Solution
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