Stockholders' Equity: Transactions and Statement The stockholders' equity section of Night Corporation's balance sheet at January 1 follows: Common stock, $4 par value, 300,000 shares authorized, 60.000 shares 240,000 issued, 6,000 shares in treasury Additional paid-in capital In excess of par value 360.000 From treasury stock 22,500 382.500 Retained earnings 261.000 883.500 Less: Treasury stock (6,000 shares) at cost 103,500 Total Stockholders†Equity 780,000 The following transactions affecting stockholders†equity occurred during the year: Jan. 8 Issued 15,000 shares of previously unissued common stock for $16 cash per share. Mar. 12 Sold all of the treasury shares for $21 cash per share. June 30 Deciared a five percent stock dividend on all outstanding shares of comman stock. The market value of the stock was $19 per share. July 10 Issued the stock dividend declared on June 30. Oct. 7 Acquired 2.500 shares of common stock as treasury stock at $20 cash per share. Dec. 18 Deciared a cash dividend of 51.00 per outstanding common share, payable on january 9 to stockholders of record on December 31. Required a. Prepare journal entries to record the foregoing transactions. b. Prepare a statement of stockholdersâ€M equity. Net income for the year is $255,750.

Which additional account is used when you close Opening Balance Equity

Margot and Orlando are trying to understand when to record journal entries for dividends. Which of the following dates related to dividends require(s) a journal entry? Select all that apply. Date of record Ex-Dividend Date Date of payment Date of declaration L

Please answer with reason for all why the option is correct and why the other options are incorrect.. Accounting type Question: A Trial Balance shows A. The balance of Profit and Loss Account B. Complete accuracy of accounting done by the accountant C. Arithmetical accuracy of ledger balances D. Balance between assets and liabilities Answer: Option C

And prepare the equity section of the balance sheet please

Identify the type of account (Asset, Liability, Equity, Revenue, Expense), normal balance (Debit, Credit), financial statement (Balance Sheet, Income Statement), and whether the account is closed at the end of the period (Yes, No) by selecting the letter that best describes those attributes. If an account is a contra or adjunct account, the answer will show the account type in parentheses. Answer items may be used once, more than once, or not at all. Retained Earnings 1. Equity, Credit, Balance Sheet, No 2. Freight-Out Liability, Credit, Balance Sheet, No V Loss on Impairment of Intangible Assets 3. Expense, Debit, Income Statement, Yes 4. Gain on Acquisition of Business (Equity), Debit, Balance Sheet, No 5. Amortization of Copyrights Asset, Debit, Income Statement, Yes Allowance for Doubtful Accounts 6. Expense or Loss, Credit, Income Statement, Yes Land 7. Revenue or Gain, Credit, Income Statement, Yes Federal Income Tax Withheld 8. (Revenue or Gain), Debit, Income Statement, Yes…

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