This is problem 14 a in wiley plus accounting 2 it needs to journalize the accounts, post entries to stock holders account with beggining and ending balances and create the balance sheet. Problem 14-1A

On January 1, 2017, Geffrey Corporation had the following stockholders' equity accounts.

Common Stock ($20par value,66,500 shares issued and outstanding)$1,330,000Paid-in Capital in Excess of ParCommon Stock190,000Retained Earnings579,000

During the year, the following transactions occurred.

Feb.1Declared a$2cash dividend per share to stockholders of record on February 15, payable March 1.Mar.1Paid the dividend declared in February.Apr.1Announced a 2-for-1 stock split. Prior to the split, the market price per share was$35.July1Declared a15%stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was$14per share.31Issued the shares for the stock dividend.Dec.1Declared a$0.30per share dividend to stockholders of record on December 15, payable January 5, 2018.31Determined that net income for the year was$390,000.

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

Debit

Credit

Jan. 1

Jan. 5

Feb. 1

Mar. 1

Apr.1

July 1

July 31

Dec. 1

Dec. 31

Jan. 1

Jan. 5

Feb. 1

Mar. 1

Apr.1

July 1

July 31

Dec. 1

Dec. 31

Jan. 1

Jan. 5

Feb. 1

Mar. 1

Apr.1

July 1

July 31

Dec. 1

Dec. 31

Jan. 1

Jan. 5

Feb. 1

Mar. 1

Apr.1

July 1

July 31

Dec. 1

Dec. 31

Jan. 1

Jan. 5

Feb. 1

Mar. 1

Apr.1

July 1

July 31

Dec. 1

Dec. 31

Jan. 1

Jan. 5

Feb. 1

Mar. 1

Apr.1

July 1

July 31

Dec. 1

Dec. 31

Jan. 1

Jan. 5

Feb. 1

Mar. 1

Apr.1

July 1

July 31

Dec. 1

Dec. 31

(To close net income)

Jan. 1

Jan. 5

Feb. 1

Mar. 1

Apr.1

July 1

July 31

Dec. 1

Dec. 31

(To close stock dividends)

Jan. 1

Jan. 5

Feb. 1

Mar. 1

Apr.1

July 1

July 31

Dec. 1

Dec. 31

(To close cash dividends)

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Enter the beginning balances, and post the entries to the stockholders' equity accounts. (Note:Open additional stockholders' equity accounts as needed.)(Post entries in the order of journal entries presented in the previous part.)

Common Stock

Date

Explanation

Ref

Debit

Credit

Balance

Jan. 1

Jan. 5

Feb. 1

Apr. 1

July 1

July 31

Dec. 1

Dec. 31

Balance

Jan. 1

Jan. 5

Feb. 1

Apr. 1

July 1

July 31

Dec. 1

Dec. 31

Adjusting

Common Stock Dividends Distributable

Date

Explanation

Ref

Debit

Credit

Balance

Jan. 1

Jan. 5

Feb. 1

Apr. 1

July 1

July 31

Dec. 1

Dec. 31

Jan. 1

Jan. 5

Feb. 1

Apr. 1

July 1

July 31

Dec. 1

Dec. 31

Paid-in Capital in Excess of ParCommon Stock

Date

Explanation

Ref

Debit

Credit

Balance

Jan. 1

Jan. 5

Feb. 1

Apr. 1

July 1

July 31

Dec. 1

Dec. 31

Balance

Jan. 1

Jan. 5

Feb. 1

Apr. 1

July 1

July 31

Dec. 1

Dec. 31

Retained Earnings

Date

Explanation

Ref

Debit

Credit

Balance

Jan. 1

Jan. 5

Feb. 1

Apr. 1

July 1

July 31

Dec. 1

Dec. 31

Balance

Jan. 1

Jan. 5

Feb. 1

Apr. 1

July 1

July 31

Dec. 1

Dec. 31

Net income

Jan. 1

Jan. 5

Feb. 1

Apr. 1

July 1

July 31

Dec. 1

Dec. 31

Stock dividend

Jan. 1

Jan. 5

Feb. 1

Apr. 1

July 1

July 31

Dec. 1

Dec. 31

Cash dividend

Cash Dividends

Date

Explanation

Ref

Debit

Credit

Balance

Jan. 1

Jan. 5

Feb. 1

Apr. 1

July 1

July 31

Dec. 1

Dec. 31

Jan. 1

Jan. 5

Feb. 1

Apr. 1

July 1

July 31

Dec. 1

Dec. 31

Jan. 1

Jan. 5

Feb. 1

Apr. 1

July 1

July 31

Dec. 1

Dec. 31

Stock Dividends

Date

Explanation

Ref

Debit

Credit

Balance

Jan. 1

Jan. 5

Feb. 1

Apr. 1

July 1

July 31

Dec. 1

Dec. 31

Jan. 1

Jan. 5

Feb. 1

Apr. 1

July 1

July 31

Dec. 1

Dec. 31

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create stockholders' equity section at December 31.(Enter account name only and do not provide descriptive information.)

GEFFREY CORPORATION

Balance Sheet (Partial)

For the Quarter Ended December 31, 2017

For the Year Ended December 31, 2017

December 31, 2017

Additional Paid-in Capital

Capital Stock

Current Assets

Current Liabilities

Intangible Assets

Long-term Investments

Long-term Liabilities

Paid-in Capital

Property, Plant and Equipment

Stockholders' Equity

Total Additional Paid-in Capital

Total Assets

Total Capital Stock

Total Current Assets

Total Current Liabilities

Total Intangible Assets

Total Liabilities

Total Liabilities and Stockholders' Equity

Total Long-term Investments

Total Long-term Liabilities

Total Paid-in Capital

Total Paid-in Capital and Retained Earnings

Total Property, Plant and Equipment

Total Stockholders' Equity

Additional Paid-in Capital

Capital Stock

Current Assets

Current Liabilities

Intangible Assets

Long-term Investments

Long-term Liabilities

Paid-in Capital

Property, Plant and Equipment

Stockholders' Equity

Total Additional Paid-in Capital

Total Assets

Total Capital Stock

Total Current Assets

Total Current Liabilities

Total Intangible Assets

Total Liabilities

Total Liabilities and Stockholders' Equity

Total Long-term Investments

Total Long-term Liabilities

Total Paid-in Capital

Total Paid-in Capital and Retained Earnings

Total Property, Plant and Equipment

Total Stockholders' Equity

Additional Paid-in Capital

Capital Stock

Current Assets

Current Liabilities

Intangible Assets

Long-term Investments

Long-term Liabilities

Paid-in Capital

Property, Plant and Equipment

Stockholders' Equity

Total Additional Paid-in Capital

Total Assets

Total Capital Stock

Total Current Assets

Total Current Liabilities

Total Intangible Assets

Total Liabilities

Total Liabilities and Stockholders' Equity

Total Long-term Investments

Total Long-term Liabilities

Total Paid-in Capital

Total Paid-in Capital and Retained Earnings

Total Property, Plant and Equipment

Total Stockholders' Equity

$

Additional Paid-in Capital

Capital Stock

Current Assets

Current Liabilities

Intangible Assets

Long-term Investments

Long-term Liabilities

Paid-in Capital

Property, Plant and Equipment

Stockholders' Equity

Total Additional Paid-in Capital

Total Assets

Total Capital Stock

Total Current Assets

Total Current Liabilities

Total Intangible Assets

Total Liabilities

Total Liabilities and Stockholders' Equity

Total Long-term Investments

Total Long-term Liabilities

Total Paid-in Capital

Total Paid-in Capital and Retained Earnings

Total Property, Plant and Equipment

Total Stockholders' Equity

Additional Paid-in Capital

Capital Stock

Current Assets

Current Liabilities

Intangible Assets

Long-term Investments

Long-term Liabilities

Paid-in Capital

Property, Plant and Equipment

Stockholders' Equity

Total Additional Paid-in Capital

Total Assets

Total Capital Stock

Total Current Assets

Total Current Liabilities

Total Intangible Assets

Total Liabilities

Total Liabilities and Stockholders' Equity

Total Long-term Investments

Total Long-term Liabilities

Total Paid-in Capital

Total Paid-in Capital and Retained Earnings

Total Property, Plant and Equipment

Total Stockholders' Equity

Additional Paid-in Capital

Capital Stock

Current Assets

Current Liabilities

Intangible Assets

Long-term Investments

Long-term Liabilities

Paid-in Capital

Property, Plant and Equipment

Stockholders' Equity

Total Additional Paid-in Capital

Total Assets

Total Capital Stock

Total Current Assets

Total Current Liabilities

Total Intangible Assets

Total Liabilities

Total Liabilities and Stockholders' Equity

Total Long-term Investments

Total Long-term Liabilities

Total Paid-in Capital

Total Paid-in Capital and Retained Earnings

Total Property, Plant and Equipment

Total Stockholders' Equity

$

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