Children's Shepard Lid. is a service corporation that has been in business for 6 years. The...
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Children's Shepard Lid. is a service corporation that has been in business for 6 years. The equity portion of the balance sheet as of 12-31-18 is: Stockholders' Equity 12-31-18 Common stock - $20 par value, 100,000 shares authorized, 16,600 shares issued, and 14,800 shares outstanding. Additional paid-in capital - Common stock Retained earnings 332,000 132.800 183,400 648.200 50.400 597,800 Less: Treasury Stock Total Stockholders' Equity July 1, 2019, the company issued 1.200 shares for $33,600. October 1, 2019 the company declared a 10% stock dividend. The stock is currently trading at $30 per share. a) Make the journal entries for both stock entries Date Account Debit Credit The net income for 2019 was 86.200. b) Prepare the Stockholders Equity 12-31-19 Stockholders' Equity 12-31-19 July 1. 2020, the company issued 400 shares for $12.800. October 1, 2020 the company declared a 35% stock dividend. The stock is currently trading at $33 per share. C) Make the journal entries for both stock entries Date Account Debit Credit The net income for 2020 was 136,800. d) Prepare the Stockholders Equity 12-31-20 Stockholders' Equity 12-31-20 Children's Shepard Lid. is a service corporation that has been in business for 6 years. The equity portion of the balance sheet as of 12-31-18 is: Stockholders' Equity 12-31-18 Common stock - $20 par value, 100,000 shares authorized, 16,600 shares issued, and 14,800 shares outstanding. Additional paid-in capital - Common stock Retained earnings 332,000 132.800 183,400 648.200 50.400 597,800 Less: Treasury Stock Total Stockholders' Equity July 1, 2019, the company issued 1.200 shares for $33,600. October 1, 2019 the company declared a 10% stock dividend. The stock is currently trading at $30 per share. a) Make the journal entries for both stock entries Date Account Debit Credit The net income for 2019 was 86.200. b) Prepare the Stockholders Equity 12-31-19 Stockholders' Equity 12-31-19 July 1. 2020, the company issued 400 shares for $12.800. October 1, 2020 the company declared a 35% stock dividend. The stock is currently trading at $33 per share. C) Make the journal entries for both stock entries Date Account Debit Credit The net income for 2020 was 136,800. d) Prepare the Stockholders Equity 12-31-20 Stockholders' Equity 12-31-20
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