Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On January 1, 2022, Oriole Corporation had the following stockholders' equity accounts. Common Stock (no par value, 88,000 shares issued and outstanding) Retained Earnings $1.415,000

image text in transcribed
image text in transcribed
image text in transcribed
On January 1, 2022, Oriole Corporation had the following stockholders' equity accounts. Common Stock (no par value, 88,000 shares issued and outstanding) Retained Earnings $1.415,000 457.000 During the year, the following transactions occurred. Feb, 1 Mar. 1 Apr. 1 July 1 Declared a $1 cash dividend per share to stockholders of record on February 15, pyable March 1. Paid the dividend declared in February Announced a 3-for-1 stock split. Prior to the split the market price per share was $36. Declared a 5% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $10 per share. Issued the shares for the stock dividend. Declared a $0.40 per share divided to stockholders of record on December 15, payable January 5, 2023. Determined that net income for the year was $382,000, 31 Dec. 1 31 Your answer is partially correct. Prepare the stockholders' equity section of the balance sheet at March 31. (Enter account name only and do not provide descriptive information) ORIOLE CORPORATION Partial Balance Sheet March 31, 2022 Stockholders' Equity Pald in Capital Capital Stock Common Stock 1415000 Retained Earnings Total Stockholders' Equity 1547000 (b) Your answer is partially correct. Prepare the stockholders' equity section of the balance sheet at June 30. (Enter account name only and do not provide descriptive information) ORIOLE CORPORATION Partial Balance Sheet June 30, 2022 Stockholders' Equity Paid in Capital Capital Stock Common Stock Retained Earnings ONE Total Stockholders' Equity

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Edp Auditing A Primer

Authors: Joseph L. Sardinas

1st Edition

0471123056, 978-0471123057

More Books

Students also viewed these Accounting questions

Question

2. Describe how technology can impact intercultural interaction.

Answered: 1 week ago