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ass Chapter 13 Homework eBook Entries for Selected Corporate Transactions Tolbert Enterprises Inc. manufactures bathroom fixtures. The stockholders' equity accounts of Tolbert Enterprises Inc., with balances on January 1, 2016, are as foll Common Stock, $10 stated value (800,000 shares authorized, 520,000 shares issued) Paid-In Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (52,000 shares, at cost) The following selected transactions occurred during the year: $5,200,000 1,000,000 11,800,000 780,000 Paid cash dividends of $0.13 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $60,840. Jan. 4. Apr. 3. Issued 100,000 shares of common stock for $1,800,000. June 6. Sold all of the treasury stock for $936,000. July 1, Declared a 5% stock dividend on common stock, to be capitalized at the market price of the stock, which is $20 per share. Aug. 15. Issued the certificates for the dividend declared on July 1. Nov. 10. Purchased 33,000 shares of treasury stock for $660,000. Dec. 27. Declared a s0.16-per-share dividend on common stock. 31. Closed the credit balance of the income summary account, $12,272,00o. 31. Closed the two dividends accounts to Retained Earnings. Required: 1. The January 1 balances have been entered in T accounts for the stockholders' equity accounts. Record the above transactions in the T accounts and provide the t ass Chapter 13 Homework eBook Entries for Selected Corporate Transactions Tolbert Enterprises Inc. manufactures bathroom fixtures. The stockholders' equity accounts of Tolbert Enterprises Inc., with balances on January 1, 2016, are as foll Common Stock, $10 stated value (800,000 shares authorized, 520,000 shares issued) Paid-In Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (52,000 shares, at cost) The following selected transactions occurred during the year: $5,200,000 1,000,000 11,800,000 780,000 Paid cash dividends of $0.13 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $60,840. Jan. 4. Apr. 3. Issued 100,000 shares of common stock for $1,800,000. June 6. Sold all of the treasury stock for $936,000. July 1, Declared a 5% stock dividend on common stock, to be capitalized at the market price of the stock, which is $20 per share. Aug. 15. Issued the certificates for the dividend declared on July 1. Nov. 10. Purchased 33,000 shares of treasury stock for $660,000. Dec. 27. Declared a s0.16-per-share dividend on common stock. 31. Closed the credit balance of the income summary account, $12,272,00o. 31. Closed the two dividends accounts to Retained Earnings. Required: 1. The January 1 balances have been entered in T accounts for the stockholders' equity accounts. Record the above transactions in the T accounts and provide the t