Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / On January 2 2014 Geffrey Corporation had the followingstockholders& equity accounts Commo...

On January 2 2014 Geffrey Corporation had the followingstockholders& equity accounts Common stock $26 par value 65000shares issued and outstanding $1690000 paid in capital inexcess

On January 2, 2014, Geffrey Corporation had the followingstockholders' equity accounts. Common stock ($26 par value, 65,000shares issued and outstanding) $1,690,000, paid in capital inexcess of par common stock $206,300, retained earnings $584,200.During the year, the following transactions occured. Feb 1 Declareda $1 cash dividend per share to stockholders of record on February25, payable March 1. March 1 paid the dividend declared inFebruary. April 1 Announced a 2-for-1 stock split. Prior to thesplit, the markey price pershare was $39. July 1 declared a 11%stock dividend to stockholders of record on July 15, distributableJuly 31. On July 1, the markey price of the stock was $14 pershare. 31 issued the shares for the stock dividend. Dec. 1 declareda $0.40 per share dividend to stockholders of record on December15, payable January 5, 2015. Dec. 31 determined that net income forthe year was $309,000. Journalize the transactions and the closigentries for net income ad dividends. Enter the beginning balances,and post the entries to the stockholders equity accounts andprepare a stockholders equity section of December 31.

 

Mar 21 2020 View more View Less

Answer (UnSolved)

question Get Solution

Related Questions