The only stockholders’ equity items of Jody Company at 2009 June 30, are: Stockholders’ equity: Paid-in capital:    Common stock – $200 par value, 10,000 shares authorized, 6,000 shares issued and outstanding   $1,200,000      Paid-in capital in excess of par value 480,000       Total paid-in capital  $1,680,000    Retained earnings  480,000       Total stockholders’ equity  $2,160,000    On 2009 August 4, a 4 cent cash dividend was declared, payable on September 3. On November 16, a 10 per cent stock dividend was declared. The shares were issued on December 1. The market value of the common stock was $ 360 per share on November 16. Prepare Journal enteries for these dividen transactions. GENERAL JOURNAL Date Account/Description POST REF. Debit Credit  20--

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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The only stockholders’ equity items of Jody Company at 2009 June 30, are:

Stockholders’ equity:

Paid-in capital:

   Common stock – $200 par value, 10,000 shares authorized, 6,000 shares issued and outstanding   $1,200,000  
   Paid-in capital in excess of par value 480,000  
    Total paid-in capital  $1,680,000 
  Retained earnings  480,000 
     Total stockholders’ equity  $2,160,000 

 

On 2009 August 4, a 4 cent cash dividend was declared, payable on September 3. On November 16, a 10 per cent stock dividend was declared. The shares were issued on December 1. The market value of the common stock was $ 360 per share on November 16.

Prepare Journal enteries for these dividen transactions.

GENERAL JOURNAL
Date Account/Description POST REF. Debit Credit
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