Part B

Part C

626,000 Problem 14-01A a-c (Video) On January 1, 2020, Wildhorse Corporation had the following stockholders' equity accounts. Common Stock (522 par value, 54,000 shares issued and outstanding) $1,188,000 Paid-in Capital in Excess of Par-Common Stock 199,000 Retained Earnings During the year, the following transactions occurred. Feb. 1 Declared a $3 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 $35. July 1 Declared a 10% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was 515 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, 2021. 31 Determined that net income for the year was $321,500. Journalize the transactions and the closing entries for net income and dividends. (Credit account titles are automatically indented when amount entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To close net income) (To close stock dividends) (To close cash dividends) LOW UTST OG ACCOUNTS Enter the beginning balances, and post the entries to the stockholders' equity accounts. (Note: Open additional stockholders' equity accounts as needed.) (Post entries in the order of journal entries presented in the previous part.) Common Stock Date Explanation Ref Debit Credit Balance Balance Common Stock Dividends Distributable Date Explanation Ref Debit Credit Balance Paid-in Capital in Excess of Par-Common Stock Date Explanation Ref Debit Balance Credit Balance Retained Earnings Date Explanation Ref Balance Debit Credit Balance 7 Net income 7 Stock dividend 7 Cash dividend Cash Dividends Date Explanation Ref Debit Credit Balance Stock Dividends Date Explanation Ref Debit Credit Balance SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Prepare a stockholders' equity section at December 31. (Enter account name only and do not provide descriptive information.) WILDHORSE CORPORATION Balance Sheet (Partial) 7 7 Click if you would like to Show Work for this question: Open Show Work