Q5:

During the year, the following transactions occurred, Feb.1 Deciared a el cash dividend per share toshareholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February Apt. 1 Announced a 5-for-1. sharesplit. Prior to the split, the market price pershare was E37. Fily 1 Declared a 107 in share dividatrid to shareholders of record on July 15 , distributable July 31 . On Juiy 1. the market prion was 68 pershare. 31. Issued the shares for theshare dividend. 31 Issued the shares for the share dividend. Dec.1 Declared a 60.40 per share dividend to shareholders of record on December 15. payable January 5,2021. 31 Determined that net income for theyear was 6360,000. Journalize the transactions and the closing entries for net income and dividendsi (Credit occount titles ore outamaticoffy indimied when omount is entered. Do notindentmanually. If no entry is required. seiect "No entry" for the occount tities and enter ofor the amount:i) (To close net income) (To cose share dividends) (To.close cash divid ands) Enter the beginning balances, and post the entries to the equity accounts. (Post entries in the order of foumal entrics presented in the previous part.) Share Premium-Ordinary Question 5 of 14 Cash Dividends eTextbook and Media