On April 30, 2025, the market price of Seabury Occupational Therapy, Inc.'s common stock was $13...

 

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On April 30, 2025, the market price of Seabury Occupational Therapy, Inc.'s common stock was $13 per share and the company declared a 5% stock dividend. The stock was distributed on May 15. Read the requirements. Date Accounts and Explanation Debit Credit Apr. 30 Stock Dividends 715 Common Stock Dividend Distributable Paid-In Capital in Excess of Par-Common Declared a 5% stock dividend. Now journalize the distribution of the stock dividend. Stockholders' Equity Stockholders' Equity Paid-In Capital: 165 550 Common Stock-$3 Par Value; 1,300 shares authorized, 1,100 shares issued and outstanding 3,300 4,400 Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings 7,700 126,000 $ 133,700 Date May 15 Accounts and Explanation Common Stock Dividend Distributable Common Stock-$3 Par Value Debit Credit 165 165 Issued 5% stock dividend. Total Stockholders' Equity Print Done Requirement 2. Prepare the stockholders' equity section of the balance sheet as of May 31, 2024. Assume Retained Earnings are $126,000 on April 30, 2025, before the stock dividend, and the only change made to Retained Earnings before preparing the balance sheet was closing the Stock Dividends account. Seabury Occupational Therapy, Inc. Balance Sheet (Partial) Requirements Paid-In Capital: May 31, 2025 Stockholders' Equity Common Stock-$3 Par Value; 1,300 shares authorized, 1,155 shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings Total Stockholders' Equity 1. Journalize the declaration and distribution of the stock dividend. 2. Prepare the stockholders' equity section of the balance sheet as of May 31, 2025. Assume Retained Earnings are $126,000 on April 30, 2025, before the stock dividend, and the only change made to Retained Earnings before preparing the balance sheet was closing the Stock Dividends account. Print Done Clear all Final check On April 30, 2025, the market price of Seabury Occupational Therapy, Inc.'s common stock was $13 per share and the company declared a 5% stock dividend. The stock was distributed on May 15. Read the requirements. Date Accounts and Explanation Debit Credit Apr. 30 Stock Dividends 715 Common Stock Dividend Distributable Paid-In Capital in Excess of Par-Common Declared a 5% stock dividend. Now journalize the distribution of the stock dividend. Stockholders' Equity Stockholders' Equity Paid-In Capital: 165 550 Common Stock-$3 Par Value; 1,300 shares authorized, 1,100 shares issued and outstanding 3,300 4,400 Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings 7,700 126,000 $ 133,700 Date May 15 Accounts and Explanation Common Stock Dividend Distributable Common Stock-$3 Par Value Debit Credit 165 165 Issued 5% stock dividend. Total Stockholders' Equity Print Done Requirement 2. Prepare the stockholders' equity section of the balance sheet as of May 31, 2024. Assume Retained Earnings are $126,000 on April 30, 2025, before the stock dividend, and the only change made to Retained Earnings before preparing the balance sheet was closing the Stock Dividends account. Seabury Occupational Therapy, Inc. Balance Sheet (Partial) Requirements Paid-In Capital: May 31, 2025 Stockholders' Equity Common Stock-$3 Par Value; 1,300 shares authorized, 1,155 shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings Total Stockholders' Equity 1. Journalize the declaration and distribution of the stock dividend. 2. Prepare the stockholders' equity section of the balance sheet as of May 31, 2025. Assume Retained Earnings are $126,000 on April 30, 2025, before the stock dividend, and the only change made to Retained Earnings before preparing the balance sheet was closing the Stock Dividends account. Print Done Clear all Final check

Answer rating: 100% (QA)

To prepare the stockholders equity section of the balance sheet as of May 31 2025 we need to conside... View the full answer