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Problem 11-8A (Part Level Submission) On January 1, 2017, Bramble Corp. had these stockholders' equity accounts. Common Stock ($10 par value, 78,000 shares issued and
Problem 11-8A (Part Level Submission) On January 1, 2017, Bramble Corp. had these stockholders' equity accounts. Common Stock ($10 par value, 78,000 shares issued and outstanding) Paid-in Capital in Excess of Par Value Retained Earnings $780,000 495,500 660,000 During the year, the following transactions occurred Jan. 15 Feb. 15 Apr 15 May 15 Dec. 1 Dec. 31 Declared a $0.70 cash dividend per share to stockholders of record on January 31, payable February 15 Paid the dividend declared in January. Declared a 10% stock diidend to stockholders of record on April 30, distribu table May 15 On April 15, the market price of the stock was 52 per share. Issued the shares for the stock dividend. Declared a $0.70 per share cash dividend to stockholders of record on December 15, payable January 10, 2018 Determined that net income for the year was $397,000. Journalize th,e transactions ne ude ent es to dose net ncome d dv dends to Rets ned Earninge is required, select No Entry" tor the account titles and enter O tor the amounts.J Record entries in he order displayed in the problem statement. Credit account es are automatica indented v en amount lS entered. Do not l dent manually. I no entry Date Account Titles and Explanation Debit Credit (To dose net ircome To dlose stock dividends) To dese cash dividends)
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