Problem #$3$

Weinstein's Nordic Italian Cuisine, Inc.

The stockholders' equity accounts of Weinstein's Nordic Italian Cuisine, Inc. balances as of December $31,2023$:

Common stock, $$2$ par

Paid in capital in excess of par

Retained earnings

$1,680,672$

$375,000$

$3,500,000$

Required:

Prepare the appropriate journal entry for each of the following transactions:

a $15-$Jan$-24$ WNIC declares a $2\%$ stock dividend Shares of WNIC are currently selling on the NYSE at $$10.$

b $14-$Feb$-24$ Stock dividend distribution date, FMV of stock $=$$$10\mathrm{.}50$

c $9-$May$-24$ WNIC declares a $$25$ per share cash dividend

d $20-$Jun$-24$ Cash dividend payment date

e $31-$Oct$-24$ WNIC declares a $40\%$ stock dividend

Shares of WNIC are currently selling on the NYSE at $$11.$

f $12-$Nov$-24$ Stock dividend distribution date, FMV of stock $=$$$11\mathrm{.}25$

g $20-$Nov$-24$ WNIC declares a property dividend providing that each holder of $50$ shares of common stock will receive a frozen eggplant dinner with a fair value of $$\frac{8\mathrm{.}50}{?}$ dinner. The dinners are currently carried in in inventory at a cost of $$150,000$

h $24-$Dec$-24$ WNIC distributes the eggplant dinners.