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Listed below are the transactions that affected the shareholders' equity of Branch$-$Rickie Corporation during the period $2024-2026.$ At December $31,2023,$ the corporation's accounts included:

Common stock, $109$ million shares at $\backslash (\backslash$$ $1\backslash )$ par

Paid$-$in capital$-$excess of par

Retained earnings

Please help with the $15$ journal entries as well as the Statement of Shareholders Equity. Thank you!

a$.$ November $1,2024,$ the board of directors declared a cash dividend of $\backslash (\backslash$$ $0\mathrm{.}80\backslash )$ per share on its common shares, payable to shareholders of record November $15,$ to be paid December $1.$

b$.$ On March $1,2025,$ the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch$-$Rickie was holding as an investment. The bonds had a fair value of $\backslash (\backslash$$ $2\mathrm{.}4\backslash )$ million, but were purchased two years previously for $\backslash (\backslash$$ $2\mathrm{.}1\backslash )$ million. Because they were intended to be held to maturity, the bonds had not been previously written up$.$ The property dividend was payable to shareholders of record March $13,$ to be distributed April $5.$

c$.$ On July $12,2025,$ the corporation declared and distributed a $\backslash (6\backslash \%\backslash )$ common stock dividend $($when the market value of the common stock was $\backslash (\backslash$$ $16\backslash )$ per share$).$ Cash was paid in lieu of fractional shares representing $540,000$ equivalent whole shares.

d$.$ On November $1,2025,$ the board of directors declared a cash dividend of $\backslash (\backslash$$ $0\mathrm{.}80\backslash )$ per share on its common shares, payable to shareholders of record November $15,$ to be paid December $1.$

e$.$ On January $15,2026,$ the board of directors declared and distributed a $3-$for$-2$ stock split effected in the form of a $\backslash (50\backslash \%\backslash )$ stock dividend when the market value of the common stock was $\backslash (\backslash$$ $17\backslash )$ per share.

f$.$ On November $1,2026,$ the board of directors declared a cash dividend of $\backslash (\backslash$$ $0\mathrm{.}65\backslash )$ per share on its common shares, payable to shareholders of record November $15,$ to be paid December $1.$

Required:

$1.$ Prepare the journal entries that Branch$-$Rickie recorded during the three$-$year period for these transactions.

$2.$ Prepare comparative statements of shareholders' equity for Branch$-$Rickie for the three$-$year period $(\backslash (\backslash$$ $\backslash )$ in $000$ s $).$ Net income was $\backslash (\backslash$$ $375\backslash )$ million, $\backslash (\backslash$$ $440\backslash )$ million, and $\backslash (\backslash$$ $500\backslash )$ million for $2024,2025,$ and $2026,$ respectively.

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Listed below are the transactions that affected the shareholders' equity of Branch$-$Rickie Corporation during the period $2024-2026.$ At

December $31,2023,$ the corporation's accounts included:

Common stock, $109$ million shares at $$1$ par

Paid$-$in capital$-$excess of par

Retained earnings

a$.$ November $1,2024,$ the board of directors declared a cash dividend of $$0\mathrm{.}80$ per share on its common shares, payable to

shareholders of record November $15,$ to be paid December $1.$

b$.$ On March $1,2025,$ the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that

Branch$-$Rickie was holding as an investment. The bonds had a fair value of $$2\mathrm{.}4$ million, but were purchased two years previously

for $$2\mathrm{.}1$ million. Because they were intended to be held to maturity, the bonds had not been previously written up$.$ The property

dividend was payable to shareholders of record March $13,$ to be distributed April $5.$

c$.$ On July $12,2025,$ the corporation declared and distributed a $6\%$ common stock dividend $($when the market value of the common

stock was $$16$ per share$).$ Cash was paid in lieu of fractional shares representing $540,000$ equivalent whole shares.

d$.$ On November $1,2025,$ the board of directors declared a cash dividend of $$0\mathrm{.}80$ per share on its common shares, payable to

shareholders of record November $15,$ to be paid December $1.$

e$.$ On January $15,2026,$ the board of directors declared and distributed a $3-$for$-2$ stock split effected in the form of a $50\%$ stock

dividend when the market value of the common stock was $$17$ per share.

f$.$ On November $1,2026,$ the board of directors declared a cash dividend of $$0\mathrm{.}65$ per share on its common shares, payable to

shareholders of record November $15,$ to be paid December $1.$

Required:

Prepare the journal entries that Branch$-$Rickie recorded during the three$-$year period for these transactions.

Prepare comparative statements of shareholders' equity for Branch$-$Rickie for the three$-$year period $($ $ in $000$ s $).$ Net income was

$$375$ million, $$440$ million, and $$500$ million for $2024,2025,$ and $2026,$ respectively.

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LogMeln Accounts

Chapter $18$

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