Problem 13-3

How do I make journal entries for retained earnings appropriation,

How do I asset acquisition, and stock dividend

Following are selected transactions of White Corporation:

2011

Dec.31The board of directors authorized the appropriation of $100,000 of retained earnings to provide for the future acquisition of a new plant site and the construction of a new building. (On the last day of each of the next six years, the same action was taken. You need not make entries for these six years.)

2016

Jan.2Purchased a new plant site for cash, $200,000.

Mar.29Entered into a contract for construction of a new building, payment to be made within 30 days following completion.

2018

Feb.10Following final inspection and approval of the new building, Dyer Construction Company was paid in full, $1,000,000.

Mar.10The board of directors authorized release of the retained earnings appropriated for the plant site and building.

Apr.2A 5% stock dividend on the 100,000 shares of $100 par value common stock outstanding was declared. The market price on this date was $110 per share.

How do I make journal entries for all of these transactions