q11-chapter 14 financial accounting II

The following shareholders' equity accounts are reported by Blossom Inc. on January 1: The following selected transactions occurred during the year: Feb. 11 Issued 50,500 common shares at \$21 per share. Mar. 2 Reacquired 19,600 common shares at $23 per share. June 14 Split the common shares 2 for 1 when the common shares were trading at $31 per share. July 25 Reacquired 390 preferred shares at $70 per share. Sept. 16 Reacquired 50,500 common shares for $18 per share. Oct. 27 Declared a 5% common stock dividend distributable on December 13 to shareholders of record on November 24. The fair value of the common shares on October 27 was $20 per share. Dec. 13 Distributed the stock dividend declared on October 27 . The fair value of the common shares on December 13 was $22 per share. Prepare journal entries for the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem. Round average per share to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 5,276. List all debit entries before credit entries.) July 25 Preferred Shares Contributed Surplus - Reacquisition of Preferred Shares Cash Sept. 16 : Common Shares. Retained Earnings Cash Oct. 27 : Stock Dividends Stock Dividends Distributable Nov. 24 : Stock Dividends Distributable Common Shares Dec 13 Stock Dividends Distributable Common Sharest