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Chapter $11$ HW

Question $4$ of $4$

$\frac{-}{2\mathrm{.}5}$

On January $1,2020,$ Windsor, Inc. had the following stockholders' equity accounts.

Common Stock $($$$22$ par value, $53,500$ shares issued and outstanding$)$ $$1,177,000$

Paid$-$in Capital in Excess of Par$-$Common Stock

$191,000$

Retained Earnings

$631,000$

During the year, the following transactions occurred

Feb.

$1$

Declared a $$3$ cash dividend per share to stockholders of record on February $15,$ payable March $1.$

Mar.

Paid the dividend declared in February.

Apr. Announced a $2-$for$-1$ stock split. Prior to the split, the market price per share was $$38.$

July Declared a $10\%$ stock dividend to stockholders of record on July $15,$ distributable July $31.$ On July $1,$ the market price of $1$ the stock was $$15$ per share.

$31$ Issued the shares for the stock dividend.

Dec. Declared a $$0\mathrm{.}30$ per share dividend to stockholders of record on December $15,$ payable January $5,2021.$

$31$ Determined that net income for the year was $$367,500.$

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Chapter $11$ HW

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Question $4$ of $4$

Journalize the transactions and the closing entries for net income and dividends. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Record journal entries in the order presented in the problem.$)$

Date Account Titles and Explanation