Business, 01.02.2021 21:20 alexandroperez13

During the year, the following transactions occurred. Feb. 1 Declared a $1 cash dividend per share to stockholders of record on February 15, payable
March 1. Mar. 1 Paid the dividend declared in February.
Apr. 1 Announced a 2-for-1 stock split. Prior to the split, the market price per share was $36.
July 1 Declared a 10% stock dividend to stockholders of record on July 15, distributable.
July 31. On July 1, the market price of the stock was $13 per share.
31 Issued the shares for the stock dividend.
Dec. 1 Declared a $0.50 per share dividend to stockholders of record on December 15, payable, January 5, 2021.
31 Determined that net income for the year was $350,000.

Required:
a. Journalize the transactions and the closing entries for net income and dividends.
b. Write the beginning balances, and post the entries to the stockholders' equity accounts. (Note: Open additional stockholders' equity accounts as needed.)
c. Prepare a stockholders' equity section at December 31.

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During the year, the following transactions occurred. Feb. 1 Declared a $1 cash dividend per share...

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