U of P ACC291

Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders equity accounts.

Common Stock ($10par value,74,800shares issued and outstanding)	$748,000
Paid-in Capital in Excess of Par Value	515,800
Retained Earnings	640,900

During the year, the following transactions occurred.

Jan. 15	Declared a $0.50cash dividend per share to stockholders of record on January 31, payable February 15.
Feb.15	Paid the dividend declared in January.
Apr.15	Declared a10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $13per share.
May15	Issued the shares for the stock dividend.
Dec.1	Declared a $0.60per share cash dividend to stockholders of record on December 15, payable January 10, 2015.
Dec.31	Determined that net income for the year was $413,100.