orporation partial stookhoiders equity consisted of the foll

orporation partial stookhoider\'s equity consisted of the following on January 1,2019 mimon Stock, no par, $25 stated value, 00,000 Shares authorized Additional paid-in Capital In excess of stated value-common stock Retained Earnings . $11,500.000 600,000 S 4,100,000 Prepare the appropriate journal entries for the following transactions in show computations in 2019. Please The joumal is presented on page 8 Feb 18 The Board of Directors declared a.50 cents cash dividend on Mar 15Paid cash dividend to common stockholders. May 20 Declared a 10% stock dividend on the common stock payable on common stock, payable on March 15, to stockholders June 15, to stockholders of record. The market value of Catt Corporation\'s Jun 15 July 10 Sep 30 common stock was $45 per share Issued the shares for the stock dividend The Board of Directors declared a 2:1 stock split on all the common shares The Board of Directors declared a .20 cents cash dividend on common stock to stockholders of record.

Solution

Journal Entries Date Accounting titles & Explanations Debit Credit 18-Feb Cash Dividend 230000 Dividends payable 230,000 (460,000*.50) 15-Mar Dividends payable 230,000 cash 230,000 20-May Stock dividend (460,000*10%)*45 2070000 Common stock div distributable(46000*25) 1150000 Addittional paid in capital in excess of par 920000 15-Jun Common stock div distributable 1150000 Common stock. 1150000 10-Jul No enty (stock split 460,000*110%*2 shares at 12.5 per share) that is 1,012,000 shares at $12.5 30-Sep Cash Dividend 202400 Dividends payable 202,400 (1,012,000*.2)