On January 1,2025, Bramble Corp. had these stockholders' equity accounts. During the year, the following...
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On January 1,2025, Bramble Corp. had these stockholders' equity accounts. During the year, the following transactions occurred. Jan. 15. Declared a $0.60 cash dividend per share to stockholders of record on January 31, payable February 15. Feb, 15 Paid the dividend declared in January. Apr. 15 Declared a 10x stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $12 per share. May 15 Issued the shares for the stock dividend. Dec. 1 Declared a $0.60 per share cash dividend to stockholders of record on December 15, payable January 10.2026. Dec. 31 Determined that net income for the year was $352,000. Dec. 1 Cash Dividends Dividends Payable Dec. 31 Income Summary Retained Earnings (To close net income) Dec. 31 Retained Earnings Stock Dividends. (To close stock dividends) Retained Earnings Cash Dividends (To close cash dividends) Dec. 31 v 352000 352000 Decisi Cash Dividends (To close cash dividends)
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