On January 1, 2012, Wirth Corporation, a publicly traded company, had these shareholders' equity accounts: Common shares

Question:

On January 1, 2012, Wirth Corporation, a publicly traded company, had these shareholders' equity accounts:
Common shares (no par value, unlimited number of shares............$1,100,000
authorized, 110,000 shares issued)
Retained earnings.................................................................540,000
Accumulated other comprehensive income.....................................60,000
During the year, the following transactions occurred:
Jan. 15 Declared a $1 per share cash to shareholders of record on January 31, payable February 15.
Apr. 15 Declared a 10% stock to shareholders of record on April 30, distributable May 15. On April 15, April 30, and May 15, the share prices were $15, $13.50, and $14, respectively.
Oct. 1 Effected a 2-for-1 stock split. On October 1, the share price was $20.
Dec. 31 Determined that profit for the year was $350,000.
Instructions
(a) Record the above transactions, including any required closing entries.
(b) Open T accounts as required and post to the shareholders' equity accounts.
(c) Prepare a statement of changes inequity for the year.
(d) Prepare the shareholders' equity section of the statement of financial position at December 31.
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...