Unit 8 Assignment Q8

data

a

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

c

On January 1 2022. Blossom Corporation had the following stockholders' equity accounts. Common Stock (S 26 par value 65,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $ 1,690,000 191,000 649.000 During the year, the following transactions occurred Feb. 1 Mar. 1 Apr. 1 July 1 Declared a $ 1 cash dividend per share to stockholders of record on February 15, payable March 1 Paid the dividend declared in February Announced a 2-for-1 stock split. Prior to the split the market price per share was $ 40. Declared a 10% stock dividend to stockholders of record on July 15, distributable July 31. On July 1. the market price of the stock was $ 14 per share Issued the shares for the stock dividend. Declared a $0.30 per share dividend to stockholders of record on December 15. payable January 5.2023. Determined that net income for the year was $ 388,000. 31 Dec 1 31 Journal the transactions and the closing entries format income and dividends Creditoccounts 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 for the amounts. Record Journal entries in the order presented in the problem Date Credit Debit Account Titles and Explanation (To dose net income) pi (To dose stock dividends) (To dose cash dividends) Er the beginning bacul, and others to the choides Operator needed in the oder jurist Can Stade Date Explanation Ref Debit Crea Balance v V Cornen Sted Dividends Distributable Date Explanation Ref Debit Credit BE v Pald-in Capital in Excess of Par Common Stock Date Explanation Ref Debit Crec Balance Lange v Retained Earnings Date Explanation Ref Debit Credit Balance V Balance V Netice V Sock dividend dend Cash Dividends Date Explanation Ref Debit Credit Balance V V Sock Dividends Date Explanation Rel Dett Crec Balance Tebook and Media List of Accounts Prepare a stockholders' equity section at December 31. (Enter account name only and do not provide descriptive information) BLOSSOM CORPORATION Balance Sheet (Partial) $ > S e Textbook and Media List of Accounts Saw for Later Attempts:O of sused Submit