Question: only do requirement 2 please I already did requirement 1 . I will include my answers in case they help you. I will give a

only do requirement 2 please I already did requirement 1 . I will include my answers in case they help you. I will give a thumbs up for sure. thanks

only do requirement 2 please I already did requirement 1 . I

will include my answers in case they help you. I will give

a thumbs up for sure. thanks asive Fina! Required 1 Required 2

asive Fina! Required 1 Required 2 Prepare the journal entries that Branch-Rickie recorded during the three-year period for these transactions. (Il no entry is required fr a transaction/event, select "No journal entry required in the first account field. Enter your answers in whole dollars.) View transaction let Wow Journal enty workohet NO General Joumal Debil Credit Date November 01. 2021 1 Retained earnings Cash dividends payable 96.000.000 96,000,000 NO Navember 15. 2024 No joumal entry required 3 December 01 2021 Cash dividends payable 96.000.000 Cash 96.000.000 14 March 01, 2022 Investment in debt securities 100.000 Gain on investments 400.000 5 March 01, 2022 Retained earnings Property dividends payable 3,600,000 3.600.000 March 13, 2022 No joutual entry required 7 April 05, 2022 3.600,000 Property dividends payable Investment in debl securities 3,600.000 8 July 12. 2022 91.200.000 Relained earings Common stock Pand in capital excess of par Cash 4.000.000 72.000.000 15 200.000 19 November 01, 2022 Retaines earrings $19.200.000 Cash dividends payable 99 200.000 N N November 15, 2022 No journal entry required 11 December 01 2022 Cash dividends payable 99.200.000 IN Gush 99,200.000 92 62.000.000 January 5, 2023 Retained earnings Common stock 62,000,000 13 November 01 2023 120.900.000 IN Retained earnings Cash dividends payable 120.900.000 November 15, 2023 No joumai entry required 16 December 01 2023 Cash dividende payable 120.900.000 Cath 120.900.000 Required 2 > Listed below are the transactions that affected the shareholders' equity of Branch-Rickle Corporation during the period 2021-2023. At December 31, 2020, the corporation's accounts Included: common stock, 120 million shares at $1 par Paid in capital-excess of par Retained earnings ($ in thousands) $120,000 720,000 990, eee a. November 1, 2021, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be pald December 1. b. On March 1, 2022, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickle was holding as an Investment. The bonds had a fair value of $3.6 million, but were purchased two years previously for $3.2 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, 2022, the corporation declared and distributed a 4% common stock dividend (when the market value of the common stock was $19 per share). Cash was pald In lieu of fractional shares representing 800,000 equivalent whole shares. d. On November 1, 2022, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be pald December 1. e. On January 15, 2023, 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 $20 per share. f. On November 1, 2023, the board of directors declared a cash dividend of $0.65 per share on its common shares, payable to shareholders of record November 15, to be pald December 1. Requlred: 1. Prepare the journal entries that Branch-Rickle recorded during the three-year period for these transactions. 2. Prepare comparative statements of shareholders' equity for Branch-Rickle for the three-year period ($ In 000s). Net Income was $430 million, $495 million, and $555 million for 2021, 2022, and 2023, respectively. Required 1 Required 2 Prepare comparative statements of shareholders' equity for Branch-Rickie for the three-year period. Net income was $430 million, $495 million, and $555 million for 2021, 2022, and 2023, respectively. (Negative amounts should be indicated by a minus sign. Enter your answers in thousands (000's).) BRANGH-RICKIE CORPORATION statement of Shareholders' Equity For the Year Ended Dec. 31, 2021, 2022, and 2023 $ In thousanda) Common Stock Additional Pald-In Capital Retained Earnings Total Shareholders' Equity Dec. 31. 2021 Property divideris Comnen stock dividend Cash dividende Dec. 31, 2022 3 for 2 il effeded in the form of a block dividend 0 D 0 $

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!