question 8

On January 1, 2022, Blossom Corporation had the following stockholders' equity accounts. During the year, the following transactions occurred. Feb. 1 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2 -for-1 stock split. Prior to the split, the market price per share was $40. July 1 Declared a 10% stock dividend to stockholders of record on July 15, distributable July 31 . On July 1, the market pri the stock was $14 per share. 31 Issued the shares for the stock dividend. Dec 1 Declareda $0.30 per share dividend to stockholders of cecord on December 15, payable January 5,2023. Journalize the transactions and the closing entries for net income and dividends. (Credit account titles are automotically indented when 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 joumal entries in the order presented in the problem.) Prepare a stockholders' equity section at December 31. (Enter occount name only and do not provide descriptive information.) Enter the beginning balances, and post the entries to the stockholders' equity accounts. (Note: Open additional stockholders' equity accounts as needed) (Post entries in the order of journal entries presented in the previous part.)