A corporation commences operations on January 1, 2019. It has the following account balances at December 31, 2019: Accounts Payable $2,500 Accounts Receivable 5,200 Advertising Expense 450 Cash 1,500 Common Stock 3,190 Interest Expense 400 Service Revenue 4,500 Supplies Expense 240 Unused Supplies 200 Wages Expense 2,200 Net assets total:

Record the appropriation of $77000 of retained earnings on December 31, 2022, by Jack Inc. to establish an appropriation for bond retirement.  Record the entry to establish appropriation.

The following data were taken from the balance sheet accounts of Monty Corporation on December 31, 2019. Current assets Debt investments (trading) Common stock (par value $10) Paid-in capital in excess of par Retained earnings (a) $515,000 (b) (c) 640,000 475,000 145,000 Prepare the required journal entries for the following unrelated items. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) 796,000 A 4% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $41. The par value of the common stock is reduced to $2 with a 5-for-1 stock split. A dividend is declared January 5, 2020, and paid January 25, 2020, in bonds held as an investment. The bonds have a book value of $92,000 and a fair value of $131,000.

The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: Cash and cash equivalents                                                     $ 5,000Accounts receivable (net)                                                       20,000Inventory                                                                                60,000Property, plant, and equipment (net)                                   120,000Accounts payable                                                                   44,000Salaries payable                                                                      15,000Paid-in capital                                                                      100,000 The only asset not listed is short-term investments. The only liabilities not listed are $30,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.5:1.Required:Determine the following…