Reference no: EM132621366
On January 1, 2017, Chen Corporation had the following stockholders' equity accounts. Common Stock ($10 par value) $750,000 Paid-in Capital in Excess of Par-Common Stock 1,300,000 Retained Earnings 1,795,000 During the year, the following transactions occurred.
Jan. 19 Declared a $0.7 cash dividend per share to stockholders of record on January 31, payable February 13.
Feb. 13 Paid the dividend declared in January. Mar. 10 Declared a 8% stock dividend to stockholders of record on March 30, distributable April 20. On March 10, the market price of the stock was $24 per share.
April 20 Issued the shares for the stock dividend.
June 17 Announced a 5-for-1 stock split. The market price per share prior to the announcement was $25.5.
Dec. 1 Declared a $0.4 per share cash dividend to stockholders of record on December 13, payable January 4, 2018.
Problem 1: Journalize the transactions.
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