70.2K

Verified Solution

Link Copied!

barclays center US Return to Blackboard Weygandt, Financial and Managerial, 3e Help System Announcements CALCULATOR PRINTER VERSION BAC Problem 11-04A a-c (Video) (Part Level Submission) On January 1, 2020, Sheridan Company had the following stockholders' equity accounts. Common Stock ($26 par value, 62,000 shares issued and outstanding) $1,612,000 Pald-in Capital in Excess of Par-Common Stock 203,000 Retained Earnings 569,000 During the year, the following transactions occurred. Feb. 1 Declared a $2 cash dividend per Share to stockholders of record on February 15, payable March 1. Mar. 1 Pald the dividend declared in February Apr. 1 Announced a 2-for-1 stock split. Prior to the spit, the market price per share was $39. July Declared a 15% 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. 31 issued the shares for the stock dividend Dec. 1 Declared a $0.60 per share dividend to stockholders of record on December 15. payable January 5, 2021. 31 Determined that income for the year was $327,000 92 (a) Journalize the transactions and the closing entries for et income and videos. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the accountries and anter for the amounts Record journal entries in the order presented in the problem.) Date Account Tides and Explanation Debit Credit 1-05 24 2 3 $ 4 % 5 6 & 7 8 9 0 W E R T Y U 0 u D F G

Answer & Explanation Solved by verified expert

See Answer