Problem 11 8A On January 1, 2014, Everett Corporation had these stockholders equity accounts Common Stock ($10par value,85,600shares issued and outstanding) $856,000 Paid in Capital in Excess of Par Value 494,900 Retained Earnings 659,900 During the year, the following transactions occurred Jan 15 Declared a $0 50cash dividend per share to stockholders of record on January 31, payable February 15 Feb 15 Paid the dividend declared in January Apr 15 Declared a10 stock dividend to stockholders of record on April 30, distributable May 15 On April 15, the market price of the stock was $15per share May15 Issued the shares for the stock dividend Dec 1 Declared a $0 60per share cash dividend to stockholders of record on December 15, payable January 10, 2015 Dec 31 Determined that net income for the year was $398,100 Warning Don't show me this message again for the assignment Ok Cancel Journalize the transactions (Record entries in the order displayed in the problem statement Credit account titles are automatically indented when amount is entered Do not indent manually ) Date Account Titles and Explanation Debit Credit (To close net income) (To close stock dividends) (To close cash dividends) Warning Don't show me this message again for the assignment Ok Cancel Enter the beginning balances and post the entries to the stockholders equity T accounts (Post entries in the order of journal entries posted in the previous part) Common Stock Retained Earnings Paid in Capital in Excess of Par Value Cash Dividends Common Stock Dividends Distributable Stock Dividends Warning Don't show me this message again for the assignment Ok Cancel Prepare the stockholders equity section of the balance sheet at December 31 EVERETT CORPORATION Partial Balance Sheet December 31, 2014 $ $ Warning Don't show me this message again for the assignment Ok Cancel Calculate the payout ratio and return on common stockholders equity (Round answers to 1 decimal place, e g 12 5 ) Payout ratio Return on common stockholders equity Warning Don't show me this message again for the assignment Ok Cancel Question Attempts 0 of 3 used

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*Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders equity accounts. Common Stock ($10par value,85,600shares issued and outstanding) $856,000 Paid-in Capital in Excess

*Problem 11-8A

On January 1, 2014, Everett Corporation had these stockholders equity accounts.

Common Stock ($10par value,85,600shares issued and outstanding)	$856,000
Paid-in Capital in Excess of Par Value	494,900
Retained Earnings	659,900

During the year, the following transactions occurred.

Jan. 15	Declared a $0.50cash dividend per share to stockholders of record on January 31, payable February 15.
Feb.15	Paid the dividend declared in January.
Apr.15	Declared a10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $15per share.
May15	Issued the shares for the stock dividend.
Dec.1	Declared a $0.60per share cash dividend to stockholders of record on December 15, payable January 10, 2015.
Dec.31	Determined that net income for the year was $398,100.

Warning

Don't show me this message again for the assignment

Ok Cancel

Journalize the transactions. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit













(To close net income)


(To close stock dividends)


(To close cash dividends)

Warning

Don't show me this message again for the assignment

Ok Cancel

Enter the beginning balances and post the entries to the stockholders equity T-accounts. (Post entries in the order of journal entries posted in the previous part)