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Problem 14-01A a-c (Part Level Submission) (Video) On January 1, 2020, Pharoah Corporation had the following stockholders' equity accounts. Common Stock ($26 par value, 62,000
Problem 14-01A a-c (Part Level Submission) (Video) On January 1, 2020, Pharoah Corporation had the following stockholders' equity accounts. Common Stock ($26 par value, 62,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,612,000 203,000 569,000 During the year, the following transactions occurred e Feb. 1 Declared a $2 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. u Apr. 1 July 1 31 Dec. 1 31 Announced a 2-for-1 stock split. Prior to the split, the market price per share was $39. Declared a 15% stock dividend to stockholders of record on July 15, distributable July 31, on July 1, the market price of the stock was $14 per share. Issued the shares for the stock dividend. Declared a s0.60 per share dividend to stockholders of record on December 15, payable January 5, 2021. Determined that net income for the year was $327,000 u
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