Note: ACCOUNTING CORPORATION
PLEASE ANSWER THE four NEEDED TRANSACTIONS. Different Journal entries every number.The stockholders' equity of the Brookside Corp. on January is given below:
Capital Stock
Preferred Stock, P par value, shares authorized, shares issued
Common stocks, P par value, shares authorized; shares issued
Additional Paidin Capital:
Premium of Preferred Stock
Premium of Common Stock
Retained Earnings:
Unappropriated
Appropriated for Contingencies
Appropriated for Treasury Stocks
Appraisal Capital
Total
Less: Treasury Stocks, shares at cost
TOTAL STOCKHOLDERS' EQUITY
The following transactions that occurred during the year:
March the board of directors declared semiannual dividend on preferred stocks and common stocks to stockholders
on record as of June to be paid on July The preferred stock is cumulative and no dividends have declared on
the prior year.
June An stock dividend on common stock was declared to stockholders of record as of August
payable on October ; market value of common stock is P per share.
July Paid the preferred and common stocks dividends.
Distributed the stock dividends to common stockholders.
Please prepare all the entries for the above transactions. Show computations.
