Question
The following is the stockholders equity section of Zion and Co. at December 31, 2018: 31-Dec-18 31-Dec-19 Common stock, $5 par value, 1,000,000 shares issued
The following is the stockholders equity section of Zion and Co. at December 31, 2018: 31-Dec-18 31-Dec-19 Common stock, $5 par value, 1,000,000 shares issued & outstanding 5,000,000 Additional paid-in-capital Common stock 3,000,000 Retained Earnings 17,500,000 $25,500,000 The following transactions occurred in 2019: 1-Feb Declared a cash dividend of $.70 per share to common shareholders of record on February 15th payable on March 1st 1-Mar Paid the dividend declared on February 1st 1-Apr Announced a 4 for 1 common stock split, the market price was $26 per share 1-Jul Declared a 15% common stock dividend, distributable July 31st, the market price was $22 per share 31-Jul Issued the shares for the stock dividend 1-Dec Declared a common stock cash dividend of .25 per share of record on December 15th 31-Dec Net income for the year was $4,450,000 A. Journalize the transactions. (I recommend you use T accounts to keep track, but you dont have to). B. Prepare the December 31, 2019 stockholders equity section above
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