please help to figure out how to continue the problem Problem 11 8A On January 1, 2014, Everett Corporation had these stockholders equity accounts Common Stock ($10par value,82,200shares issued and outstanding) $822,000 Paid in Capital in Excess of Par Value 502,900 Retained Earnings 697,700 During the year, the following transactions occurred Jan 15 Declared a $0 50cash dividend per share to stockholders of record on January 31, payable February 15 Feb 15 Paid the dividend declared in January Apr 15 Declared a10 stock dividend to stockholders of record on April 30, distributable May 15 On April 15, the market price of the stock was $14per share May15 Issued the shares for the stock dividend Dec 1 Declared a $0 50per share cash dividend to stockholders of record on December 15, payable January 10, 2015 Dec 31 Determined that net income for the year was $413,000 Journalize the transactions (Record entries in the order displayed in the problem statement Credit account titles are automatically indented when amount is entered Do not indent manually ) Date Account Titles and Explanation Debit Credit Jan 15Feb 15Apr 15May 15Dec 1Dec 31 Cash Dividends Dividends Payable Dividends Payable cash Jan 15Feb 15Apr 15May 15Dec 1Dec 31 Jan 15Feb 15Apr 15May 15Dec 1Dec 31 Stock Dividends Common Stock Dividends Common Stock Dividends Jan 15Feb 15Apr 15May 15Dec 1Dec 31 Jan 15Feb 15Apr 15May 15Dec 1Dec 31 Jan 15Feb 15Apr 15May 15Dec 1Dec 31 (To close net income) Jan 15Feb 15Apr 15May 15Dec 1Dec 31 (To close stock dividends) Jan 15Feb 15Apr 15May 15Dec 1Dec 31 (To close cash dividends) SHOW LIST OF ACCOUNTS LINK TO TEXT 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) Common Stock 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal Retained Earnings 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal Paid in Capital in Excess of Par Value 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal Cash Dividends 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal Common Stock Dividends Distributable 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal Stock Dividends 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal 1 1Bal 1 154 155 1512 112 3112 31Bal SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Prepare the stockholders equity section of the balance sheet at December 31 EVERETT CORPORATION Partial Balance Sheet December 31, 2014 Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong term InvestmentsLong term LiabilitiesNet Income (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long term InvestmentsTotal Long term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid in CapitalPaid in CapitalCapital StockTotal Capital StockTotal Paid in CapitalTotal Paid in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid in Capital Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong term InvestmentsLong term LiabilitiesNet Income (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long term InvestmentsTotal Long term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid in CapitalPaid in CapitalCapital StockTotal Capital StockTotal Paid in CapitalTotal Paid in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid in Capital Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong term InvestmentsLong term LiabilitiesNet Income (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long term InvestmentsTotal Long term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid in CapitalPaid in CapitalCapital StockTotal Capital StockTotal Paid in CapitalTotal Paid in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid in Capital $ Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong term InvestmentsLong term LiabilitiesNet Income (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long term InvestmentsTotal Long term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid in CapitalPaid in CapitalCapital StockTotal Capital StockTotal Paid in CapitalTotal Paid in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid in Capital Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong term InvestmentsLong term LiabilitiesNet Income (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long term InvestmentsTotal Long term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid in CapitalPaid in CapitalCapital StockTotal Capital StockTotal Paid in CapitalTotal Paid in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid in Capital Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong term InvestmentsLong term LiabilitiesNet Income (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long term InvestmentsTotal Long term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid in CapitalPaid in CapitalCapital StockTotal Capital StockTotal Paid in CapitalTotal Paid in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid in Capital $ SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Calculate the payout ratio and return on common stockholders equity (Round answers to 1 decimal place, e g 12 5 ) Payout ratio Return on common stockholders equity SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Question Attempts 0 of 4 used SAVE FOR LATER SUBMIT ANSWER Copyright 2000 2016 by John Wiley Sons, Inc or related companies All rights reserved

The Answer is in the image, click to view ...

Question: please help to figure out how to continue the problem Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders equity accounts. Common Stock

please help to figure out how to continue the problem

Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders equity accounts.

Common Stock ($10par value,82,200shares issued and outstanding)	$822,000
Paid-in Capital in Excess of Par Value	502,900
Retained Earnings	697,700

During the year, the following transactions occurred.

Jan. 15	Declared a $0.50cash dividend per share to stockholders of record on January 31, payable February 15.
Feb.15	Paid the dividend declared in January.
Apr.15	Declared a10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $14per share.
May15	Issued the shares for the stock dividend.
Dec.1	Declared a $0.50per share cash dividend to stockholders of record on December 15, payable January 10, 2015.
Dec.31	Determined that net income for the year was $413,000.

Journalize the transactions.(Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 15Feb. 15Apr. 15May 15Dec. 1Dec. 31	Cash Dividends Dividends Payable

Dividends Payable cash Jan. 15Feb. 15Apr. 15May 15Dec. 1Dec. 31

Jan. 15Feb. 15Apr. 15May 15Dec. 1Dec. 31	Stock Dividends Common Stock Dividends Common Stock Dividends


Jan. 15Feb. 15Apr. 15May 15Dec. 1Dec. 31

Jan. 15Feb. 15Apr. 15May 15Dec. 1Dec. 31

Jan. 15Feb. 15Apr. 15May 15Dec. 1Dec. 31

(To close net income)
Jan. 15Feb. 15Apr. 15May 15Dec. 1Dec. 31

(To close stock dividends)
Jan. 15Feb. 15Apr. 15May 15Dec. 1Dec. 31

(To close cash dividends)

SHOW LIST OF ACCOUNTS

LINK TO TEXT

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)

SHOW LIST OF ACCOUNTS

LINK TO TEXT LINK TO TEXT

Prepare the stockholders equity section of the balance sheet at December 31.

EVERETT CORPORATION Partial Balance Sheet December 31, 2014
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid-in Capital
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid-in Capital
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid-in Capital
	$
Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid-in Capital

Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid-in Capital

Current AssetsCurrent LiabilitiesExpensesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesNet Income / (Loss)Property, Plant and EquipmentRevenuesStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal ExpensesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal RevenuesAdditional Paid-in CapitalPaid-in CapitalCapital StockTotal Capital StockTotal Paid-in CapitalTotal Paid-in Capital and Retained EarningsTotal Stockholders EquityTotal Additional Paid-in Capital	$

SHOW LIST OF ACCOUNTS

LINK TO TEXT LINK TO TEXT LINK TO TEXT

Calculate the payout ratio and return on common stockholders equity.(Round answers to 1 decimal place, e.g. 12.5%.)

Payout ratio		%
Return on common stockholders equity		%

SHOW LIST OF ACCOUNTS

LINK TO TEXT LINK TO TEXT

Question Attempts: 0 of 4 used

SAVE FOR LATER

SUBMIT ANSWER

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!

U of P ACC291 Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders equity accounts. Common Stock ($10par value,74,800shares issued and outstanding) $748,000 Paid-in Capital in...

I need help with completting this homework assignment. See details below Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders equity accounts. Common Stock ($10par...

Please help. CALCULATOR PRINTER Problem 11-4A (Part Level Submission) On January 1, 2015, Geffrey Corporation had the following stockholders' equity accounts. Common Stock ($24 par value, 50,000...

11-8A Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders equity accounts. Common Stock ($10par value,75,700shares issued and outstanding) $757,000 Paid-in Capital in Excess...

Need some help with this answer please Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders equity accounts. Common Stock ($10par value,68,100shares issued and outstanding)...

Please Show work. Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders equity accounts. Common Stock ($10par value,86,600shares issued and outstanding) $866,000 Paid-in...

Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders equity accounts. Common Stock ($10par value,67,000shares issued and outstanding) $670,000 Paid-in Capital in Excess of Par...

*Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders equity accounts. Common Stock ($10par value,85,600shares issued and outstanding) $856,000 Paid-in Capital in Excess of...

Good morning. my work is 75% complete. I just need help answering a few questions. Problem 11-8A On January 1, 2014, Everett Corporation had these stockholders' equity accounts. Common Stock ($10 par...

Write a definite integral that represents the area of the region. (Do not evaluate the integral.) Y = x - 4x Y2=0 4 y-2 2 X 3 )ox 37 2

If the production function of a competitive firm is homothetic, then the cost function is separable, that is, C(w,y) = (y)c(w,1)

Which of the following is NOT a step in surviving a financial crisis? Question 1 5 options: a ) Establish a larger than usual emergency fund b ) Pay only the minimum due on your credit cards c )...

In conducting time-series forecasts at a truck dealership, the key data element(s) include: historical sales data all data elements are key activity at competitor's facilities prime interest rate...

1. Discuss the following statements: (a) Its what you are best at that will be your downfall. (b) How can we learn but not learn? (c) Learning to see is different from seeing. (d) Creativity is...

2. In this chapter, the reader should reflect on the following concepts: The trimming effect, vision, steady course paradox, bottom line, prisoners dilemma, social dilemma, CI strategy, CCI strategy,...

3. In what way can preconceptions affect what we perceive in new situations?