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The stockholders' equity accounts of Bramble Corp. on January 1, 2025, were as follows. During 2025, the corporation had the following transactions and events pertaining
The stockholders' equity accounts of Bramble Corp. on January 1, 2025, were as follows. During 2025, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 14,000 shares of common stock for $84,000. Mar. 20 Purchased 2,800 additional shares of common treasury stock at $7 per share. Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15 , payable December 31,2 Dec. 31 Determined that net income for the year was $785,000. Paid the dividend declared on December 1. Joumalize the transactions. (Include entries to dose net income and dividends to Retained Eamings) (ikenod intikin in the onder entry is mouind, selact "No Enty" for the ocowut bides and enter O for the anounts Litt afl debit entries before crdit antrie) Date Account Titles and Explanation Debit Credit (To dose Income Summary and transfer net income to Retained Earnings) (To close Cash Dividends to Retained Earnings) (To record payment of cash dividends payable) D 1 enitines nithi= botencedotip ous Prepare the stockholders' equity section of the balance sheet at December 31, 2025, (Entre douvint hanwent and do nut provise Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Note Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.) (Round answers to 2 decimal ploces for per unit and percentage, eg. 17.50 or 17.50%.) The stockholders' equity accounts of Bramble Corp. on January 1, 2025, were as follows. During 2025, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 14,000 shares of common stock for $84,000. Mar. 20 Purchased 2,800 additional shares of common treasury stock at $7 per share. Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15 , payable December 31,2 Dec. 31 Determined that net income for the year was $785,000. Paid the dividend declared on December 1. Joumalize the transactions. (Include entries to dose net income and dividends to Retained Eamings) (ikenod intikin in the onder entry is mouind, selact "No Enty" for the ocowut bides and enter O for the anounts Litt afl debit entries before crdit antrie) Date Account Titles and Explanation Debit Credit (To dose Income Summary and transfer net income to Retained Earnings) (To close Cash Dividends to Retained Earnings) (To record payment of cash dividends payable) D 1 enitines nithi= botencedotip ous Prepare the stockholders' equity section of the balance sheet at December 31, 2025, (Entre douvint hanwent and do nut provise Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Note Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.) (Round answers to 2 decimal ploces for per unit and percentage, eg. 17.50 or 17.50%.)
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