Question: I need help with these questions. Please indicate your full solution and correct answers. Thank you. On January 1, 2021, Kokomo Corporation had 74,000 common

 I need help with these questions. Please indicate your full solutionand correct answers. Thank you. On January 1, 2021, Kokomo Corporation had

74,000 common shares, recorded at $594,000, and retained earnings of $1,073,000. DuringI need help with these questions. Please indicate your full solution and correct answers. Thank you.

On January 1, 2021, Kokomo Corporation had 74,000 common shares, recorded at $594,000, and retained earnings of $1,073,000. During the year, the following transactions occurred: Apr. 2 Issued 5,100 common shares at $20 per share. June 15 Declared a cash dividend of $0.15 per share to common shareholders of record on June 30 , payable on July 10. Aug. 21 Declared a 5\% stock dividend to common shareholders of record on September 5, distributable on September 20. The shares were trading for $21 a share on August 21,$24 on September 5 , and $25 on September 20. Nov. 1 Issued 3,300 common shares at $24 per share. Dec. 20 Declared a cash dividend of $0.20 per share to common shareholders of record on December 31 , payable on January 10. - Your answer is partially correct. Record the above transactions for 2021. (Note: Closing entries are not required.) (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) \begin{tabular}{ll} \hline Aug. 21 & Dividends Declared \\ \hline & Stock Dividends Distributable \end{tabular} 83,055 \begin{tabular}{ll} \hline Sept. 20v \\ \hline \end{tabular} Stock Dividends Distributable 83,055 Common Shares Nov. 1 Cash 79,200 Common Shares \begin{tabular}{l} \hline \\ \hline \end{tabular} 79,200

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