Question

On January 1, 2014, Dingler Corporation had the following stockholders’ equity accounts.
Common Stock (no-par value, 100,000 shares issued and outstanding) . $2,800,000
Retained Earnings ....................... 1,000,000
During the year, the following transactions occurred.
Feb. 1 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1.
Mar. 1 Paid the dividend declared in February.
Apr. 1 Announced a 4-for-1 stock split. Prior to the split, the market price per share was $36.
July 1 Declared a 5% stock dividend to stockholders of record on July 15, distributable
July 31. On July 1, the market price of the stock was $13 per share.
31 Issued the shares for the stock dividend.
Dec. 1 Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2015.
31 Determined that net income for the year was $700,000.

Instructions
Prepare the stockholders’ equity section of the balance sheet at
(a) March 31,
(b) June 30,
(c) September 30,
(d) December 31, 2014.



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  • CreatedJanuary 30, 2014
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