Question: Everything is correct except for the following: -The values under Requirement 1, Problem 13 and Problem 15 (the accounts are fine, just the numbers). -Cash





Everything is correct except for the following:
-The values under Requirement 1, Problem 13 and Problem 15 (the accounts are fine, just the numbers).
-Cash dividends values under both Retained Earnings column and Total Shareholders' Equity column.
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Check my work View previous attempt 11 Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 20182020. At December 31, 2017, the corporation's accounts included: 1.3 points Common stock, 114 million shares at $1 par Paid-in capital-excess of par Retained earnings ($ in 000s) $ 114,000 684,000 930,000 eBook Print References a. November 1, 2018, the board of directors declared a cash dividend of $0.60 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. b. On March 1, 2019, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The bonds had a fair value of $3.0 million, but were purchased two years previously for $2.6 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 13, to be distributed April 5. c. On July 12, 2019, the corporation declared and distributed a 5% common stock dividend (when the market value of the common stock was $22 per share). Cash was paid in lieu of fractional shares representing 700,000 equivalent whole shares. d. On November 1, 2019, the board of directors declared a cash dividend of $0.60 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. e. On January 15, 2020, the board of directors declared and distributed a 3-for-2 stock split effected in the form of a 50% stock dividend when the market value of the common stock was $23 per share. f. On November 1, 2020, the board of directors declared a cash dividend of $0.45 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. Required: 1. Prepare the journal entries that Branch-Rickie recorded during the three-year period for these transactions. 2. Prepare comparative statements of shareholders' equity for Branch-Rickie for the three-year period. Net income was $400 million, $465 million, and $525 million for 2018, 2019, and 2020, respectively. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entries that Branch-Rickie recorded during the three-year period for these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list View journal entry worksheet No General Journal Credit Date November 01, 2018 Debit 68,400,000 Retained earnings Cash dividends payable 68,400,000 92 November 15, 2018 No journal entry required December 01, 2018 Cash dividends payable 68,400,000 Cash 68,400,000 4 400,000 March 01, 2019 Investment in Warner bonds Gain on appreciation of investment 400,000 5 3,000,000 March 01, 2019 Retained earnings Property dividends payable 3,000,000 March 13, 2019 No journal entry required 7 April 05, 2019 3,000,000 Property dividends payable Investment in Warner bonds 3,000,000 July 12, 2019 125,400,000 Retained earnings Common stock Paid-in capitalexcess of par Cash 5,000,000 105,000,000 15,400,000 November 01, 2019 Retained earnings 71,400,000 Cash dividends payable 71,400,000 November 15, 2019 No journal entry required December 01, 2019 Cash dividends payable 71,400,000 Cash 71,400,000 12 59,500,000 January 15, 2020 Paid-in capital-excess of par Common stock 59,500,000 13 November 01, 2020 Retained earnings 51,300,000 Cash dividends payable 51,300,000 14 November 15, : No journal entry required 2020 15 / December 01, 2020 Cash dividends payable 51,300,000 Cash 51,300,000 Required 1 Required 2 Prepare comparative statements of shareholders' equity for Branch-Rickie for the three-year period. Net income was $400 million, $465 million, and $525 million for 2018, 2019, and 2020, respectively. (Negative amounts should be indicated by a minus sign. Enter your answers in thousands (000's).) BRANCH-RICKIE CORPORATION Statement of Shareholders' Equity For the Years Ended Dec. 31, 2018, 2019, and 2020 Total Common Additional Retained Shareholders' Stock Paid-in Capital Earnings Equity Jan. 1, 2018 $ 114,000 $ 684,000 $ 930,000 $ 1,728,000 Net income 400,000 400,000 Cash dividends (68,400)| (68,400) Dec. 31, 2018 114,000 684,000 1,261,600 2,059,600 Property dividends (3,000) (3,000) Common stock dividend 5,000 105,000 (125,400)| (15,400) Net income 465,000 465,000 Cash dividends (71,400)| (71,400) Dec 31, 2019 119,000 789,000 1,526,800 2,434,800 3-for-2 split effected in the form of a stock dividend 59,500 (59,500) Net income 525,000 525,000 Cash dividends (51,300)| (51,300) Dec. 31, 2020 $ 178,500 $ 729,500 $ 2,000,500 $ 2,908,500
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