The equity sections for Zephyr Group at the beginning of the year (January 1) and end of the year (December 31) follow.

Stockholders Equity (January 1)
Common stock$6 par value, 120,000 shares authorized, 50,000 shares issued and outstanding	$	300,000
Paid-in capital in excess of par value, common stock		45,000
Retained earnings		250,000
Total stockholders equity	$	595,000

Stockholders Equity (December 31)
Common stock$6 par value, 120,000 shares authorized, 55,520 shares issued, 4,000 shares in treasury	$	333,120
Paid-in capital in excess of par value, common stock		89,160
Retained earnings ($48,000 restricted by treasury stock)		450,000
		872,280
Less cost of treasury stock		(48,000)
Total stockholders equity	$	824,280

The following transactions and events affected its equity during the year.

Jan.		5		Declared a $1.80 per share cash dividend, payable on January 10.
Mar.		20		Purchased treasury stock for cash.
Apr.		5		Declared a $1.80 per share cash dividend, payable on April 10.
July		5		Declared a $1.80 per share cash dividend, payable on July 10.
July		31		Declared a 12% stock dividend when the stocks market value was $14 per share.
Aug.		14		Issued the stock dividend that was declared on July 31.
Oct.		5		Declared a $1.80 per share cash dividend, date of record October 10.

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General Journal

Journal entry worksheet

1 Declared a $1.80 per share cash dividend, payable on January 10

2. Record payment of the 01/05 dividend.

3 Purchased treasury stock for cash. Hint: Use information from the December 31 Stockholders' equity statement. Entry to restrict retained earnings is not required

4 Declared a $1.80 per share cash dividend, payable on April 10.

5 Record payment of the 04/05 dividend.

6 Declared a $1.80 per share cash dividend, payable on July 10.

7 Record payment of the 07/05 dividend.

8 Declared a 12% stock dividend when the stock's market value is $14 per share.

9 Issued the stock dividend that was declared on July 31.

10 Declared a $1.80 per share cash dividend, date of record October 10.

11 Record payment of the 10/10 dividend.

12 Close income summary to retained earnings.

Date	Account Title	Debit	Credit

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Cash Dividends

Calculate the dollar amount of each cash dividend.

DATES: __??__ to: __??__

Calculation of Cash Dividends
	January 05	April 05	July 05	October 05
How many common shares are outstanding?	??	??	??	??
Dividend per share	??
Total cash dividend

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Stock Dividend

Calculate the amount of retained earnings to be capitalized as a result of the stock dividend.

DATES: __??__ to: __??__

Capitalization of retained earnings due to stock dividend:
Number of shares outstanding on July 30
Percentage of stock dividend
Number of shares to be issued
Amount to be capitalized per share
Total amount to be capitalized