Problem

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 $1,680,672$

Paid in capital in excess of par $375,000$

Retained earnings $3,500,000$

Required:

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

$1.15-$Jan$-24$ WNIC declares a $2\%$ stock dividend

Shares of WNIC are currently selling on the NYSE at $$10.$

$2\mathrm{.}14-$Feb$-24$ Stock dividend distribution date, FMV of stock $=$$$10\mathrm{.}50$

$3.9-$May$-24$ WNIC declares a $$25$ per share cash dividend

$4.20-$Jun$-24$ Cash dividend payment date

$5.31-$Oct$-24$ WNIC declares a $40\%$ stock dividend

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

$6.12-$Nov$-24$ Stock dividend distribution date, FMV of stock$=$$$11\mathrm{.}25$

$7.20-$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 $$8\mathrm{.}50$ dinner. The dinners are currently carried in inventory at a cost of $150,000$

$8.24-$Dec$-24$ WNIC distributes the eggplant dinners.