Listed below are the transactions that affected the shareholders' equity of BLT Corporation during the period 2010-2012.

Question:

Listed below are the transactions that affected the shareholders' equity of BLT Corporation during the period 2010-2012. At December 31, 2009, the corporation's accounts included:

Common stock, 315 million shares at $1 par..... $Â 315,000,000

Paid-in capital - excess of par............. 1,890,000

Retained earnings.................. 2,910,000

a. November 2, 2010, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 16, to be paid December 2.

b. On March 2, 2011, the board of directors declared a property dividend consisting of corporate bonds of Blair County that BLT was holding as an investment. The bonds had a fair market value of $4.8 million, but were purchased two years previously for $3.9 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The property dividend was payable to shareholders of record March 14, to be distributed April 6.

c. On July 13, 2011, the corporation declared and distributed a 5% common stock dividend (when the market value of the common stock was $21 per share).

d. On November 2, 2011, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 16, to be paid December 2.

e. On January 16, 2012, the board of directors declared and distributed 50% stock dividend when the market value of the common stock was $23 per share.

f. On November 2, 2012, the board of directors declared a cash dividend of $0.65 per share on its common shares, payable to shareholders of record November 16, to be paid December 2.

Required:

1. Prepare the journal entries that BLT recorded during the three-year period for these transactions. SHOW ALL WORK

(Bench-mark figures below)

Decreases to Retained Earnings

2010............252,000,000

2011............600,150,000

2012............487,856,000

Chapter 15'Preferred and Common CashDividends:

Listed below are the transactions that affected the shareholders' equity of

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...