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please help Check my work Listed below are the transactions that affected the shareholders' equity of Branch-Rickle Corporation during the period 2021-2023. At December 31,
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Check my work Listed below are the transactions that affected the shareholders' equity of Branch-Rickle Corporation during the period 2021-2023. At December 31, 2020, the corporation's accounts included: Common stock, 107 million shares at 51 par Paid-in capital-excess of par Retained earnings ($ in thousands) $107.000 642,00 860,000 a. November 1, 2021, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December 1, b. On March 1, 2022, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The bonds had a fair value of $2.2 million, but were purchased two years previously for $19 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The property dividend was payable to shareholders of record March 13, to be distributed April 5 con July 12. 2022, the corporation declared and distributed a 6% common stock dividend (when the market value of the common stock was $14 per share). Cash was paid in lieu of fractional shares representing 420,000 equivalent whole shares d. On November 1, 2022, the board of directors declared a cash dividend of $0 80 per share on its common shares, payable to shareholders of record November 15, to be paid December 1 e. On January 15, 2023, the board of directors declared and distributed a 3-for-2 stock split effected in the form of a 50% stock dividend when the market value of the common stock was $15 per share On November 1, 2023, the board of directors declared a cash dividend of $0.65 per share on its common shares, payable to shareholders of record November 15. to be paid December 1 Check my Requirea: 1. Prepare the journal entries that Branch-Rickie recorded during the three-year period for these transactions 2. Prepare comparative statements of shareholders' equity for Branch-Rickle for the three-year period ($ in 00s). Net income was $365 million $430 million, and $490 million for 2021, 2022 and 2023, respectively. Complete this question by entering your answers in the tabs below. Required: Required 2 Prepare the journal entries that Branch-Rickle recorded during the three-year period for these transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 15 Journal entry worksheet Record payment of cash dividend. Note: Enter debts before credits Date December 01, 2021 General Journal Debit Credit Violoncel Check Journal entry worksheet 3 3 5 6 7 8 15 > Record appreciation of investment. Note: Enter debits before credits Date March 01, 2022 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Record the entry on date of record. Note: Enter debuts before credits Date March 13, 2022 General Journal Debit Credit Record entry Clear entry View general Journal Chech Journal entry worksheet Record distribution of property dividends. Note: Enter debits before credits General Journal Date April 05, 2022 Debit Credit Record entry Clear entry View general Journal Journal entry worksheet Step by Step Solution
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