Question
The stockholders' equity section of Benton Corporation's balance sheet as of December 31, 2014 is as follows: Stockholders' Equity Common stock, $5 par value; authorized,
The stockholders' equity section of Benton Corporation's balance sheet as of December 31, 2014 is as follows:
Stockholders' Equity | ||
Common stock, $5 par value; authorized, 1,500,000 shares; issued, 300,000 shares | $1,500,000 | |
Paid-in capital in excess of par | 840,000 | |
Retained earnings | 3,060,000 | |
$5,400,000 |
The following events occurred during 2015:
1. | Jan. 5 | 32,000 shares of authorized and unissued common stock were sold for $8 per share. | ||
2. | Jan. 16 | Declared a cash dividend of 20 cents per share, payable February 15 to stock-holders of record on February 5. | ||
3. | Feb. 10 | 40,000 shares of authorized and unissued common stock were sold for $13 per share. | ||
4. | March 1 | A 30% stock dividend was declared and issued. Fair value per share is currently $15. | ||
5. | April 1 | A two-for-one split was carried out. The par value of the stock was to be reduced to $2.50 per share. Fair value on March 31 was $18 per share. | ||
6. | July 1 | A 15% stock dividend was declared and issued. Fair value is currently $10 per share. | ||
7. | Aug. 1 | A cash dividend of 20 cents per share was declared, payable September 1 to stockholders of record on August 21. |
Enter the above events into the following work sheet showing how each event affects the column
Please include all solutions and values so I can figure out what I am doing wrong. Thank you soo much, I will be sure to rate you :)
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