Question
Various Dividends Carlyon Company listed the following equity items on December 31, 2012 Investment in Man Company bonds $25,000 Dividents payable: preferred 4,000 Dividents payable:
Various Dividends
Carlyon Company listed the following equity items on December 31, 2012
Investment in Man Company bonds $25,000
Dividents payable: preferred 4,000
Dividents payable: common 40,000
Preferred stock, 8%, $100 par 100,000
Common stock, &10 par 400,000
Additional pain -in capital on preferred stock 20,000
Additional paid -in capital on common stock 210,000
retained earnings 270,000
During 2013, the following transactions occurred:
Feb. 2 Paid the semiannual dividends declared on December 15, 2012
Mar. 5 Declared a property dividend, payable to common shareholders on April 5 in Man Company bonds being held to maturity. The bonds(which have a book value of $25,000) have a current market value of $31,000.
April. 5 Paid the property dividend.
July 6 Declared a $4 per share semiannual cash dividend on perferred stock and a $1.10 per share semiannual dividend on common stock, to be paid on August 17.
Aug. 17 Paid in cash dividends.
Oct. 15 Declared a 2% stock dividend on common stock to be issued on December 3. The current price is $22 per share.
Dec. 3 Issued the stock dividend. 28 Declared a $4 and $1.20 per share semiannual cash dividend on preferred and common stock, respectively, to be paid on February 15, 2014.
Prepare journal entries to record the preceding transactions. For compound entriers, if an amout box does not require an entry, leave it blank.
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