Question: Please help me on my homework I will upvote if correct. On January 1, 2022, Bridgeport Corp, had these stockholders'equity accounts, $665,000 Common Stock ($10






On January 1, 2022, Bridgeport Corp, had these stockholders'equity accounts, $665,000 Common Stock ($10 par value, 66,500 shares issued and outstanding) Paid-in Capital in Excess of Par Value Retained Earnings 481,500 615,000 During the year, the following transactions occurred. Jan 15 Feb 15 Apr. 15 Declared a $0,40 cash dividend per share to stockholders of record on January 31, payable February 15, Paid the dividend declared in January Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $16 per share, Issued the shares for the stock dividend Declared a $0,50 per share cash dividend to stockholders of record on December 15, payable January 10, 2023, May 15 Dec 1 Dec 31 Determined that net income for the year was $353,000 Journalize the transactions. Include entries to close net income and dividends to Retained Earnings: (Record entries in the order displayed in the problem statement Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 15 Cash Dividends 26,000 Common Stock Dividends Distributable 26.000 Feb 15 Common Stock Dividends Distributable 26,000 Cash 26.000 Apr 15 Stock Dividends 106,400 Common Stock Dividends Distributable 66,500 Pald-in Capital in Excess of Par Value-Common Stock 39.900 May 15 : Common Stock Dividends Distributable 106,400 Common Stock 106.400 Dec 1 Cash Dividends 36.575 Dec. 1 . Cash Dividends 36,575 Common Stock Dividends Distributable 36,575 Dec. 314 (To close net Income) (To close stock dividends) 1 To close cash dividends) List of Accounts Enter the beginning balances and post the entries to the stockholders' equity T-accounts. (Post entries in the order of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.) Common Stock + Retained Earnings . Paid-in Capital in Excess of Par Value Paid-in Capital in Excess of Par Value 1 Cash Dividends Common Stock Dividends Distributable Stock Dividends Prepare the stockholders' equity section of the balance sheet at December 31. BRIDGEPORT CORP. Partial Balance Sheet 4 $ 1 $ $ List of Accounts Calculate the payout ratio and return on common stockholders' equity. (Round answers to 1 decimal plac Payout ratio % Return on common stockholders' equity %
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