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please give the solution as fast as possible The stockholders' equity section of Benton Corporation's balance sheet as of December 31, 2010 is as follows:
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The stockholders' equity section of Benton Corporation's balance sheet as of December 31, 2010 is as follows: Stockholders' Equity: Common stock, $5 par value; authorized- 2,000,000 shares; Issued - 400,000 shares...... $2,000,000 Paid-in capital in excess of par. 850,000 Retained earnings.......... 3,000,000 The following events occurred during 2011: Jan. 5 10,000 shares of authorized and unissued common stock were sold for $8 per share. Jan. 16 Declared a cash dividend of 20 cents per share, payable February 15 to stock-holders of record on February 5. Feb. 10 20,000 shares of authorized and unissued common stock were sold for $12 per share. March 1 A 30% stock dividend was declared and issued. Market value per share is currently $15. April 1 A two-for-one split was carried out. The par value of the stock was to be reduced to $2.50 per share. Market value March 31 was $18 per share. July 1 A 15% stock dividend was declared and issued. Market value is currently $10 per share. Aug. 1 A cash dividend of 20 cents per share was declared, payable September 1 to stockholders of record on August 21. Instructions: 1) On the Answer Template Journalize the above transactions [7 marks] II) On the Answer Template prepare the The stockholders' equity section of Benton Corporation's balance sheet as of December 31, 2011 [3 marks] State the value of total stockholder's equity at the end of the periodStep by Step Solution
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