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October 1, 2014

Homework Help: accounting

Posted by Kendra on Sunday, July 27, 2008 at 6:59pm.

I need help in preparing the following: 1) record the 2008 transactions in journal form. 2) prepared the stockholders equt7y section of the company balance sheet as of December 31, 2008. Assume net income for the year is $4000, 000

The stockholders equity section of Rigby Moving and Storage Company’s balance sheet as of December 31, 2007, appears at the top of the next page. The company engaged in the following stockholders equity transactions during 2008.


Contributed Capital
Common stock, $2 par value, 3000,000 shares
Authorized, 500,000 shares issued and outstanding
Additional paid-in capital
Total contributed capital
Retained earnings

$1000,000
400,000
1400,00
1080,000
Total Stockholders Equity 2,480,00


Mar. 5 Declared a $.40 per share cash dividend to be paid on April 6 to stockholders of record on March 20.

Mar 20 Date of record

Apri. 6 Paid the cash dividend

June 17 Declared a 10% stock dividend to be distributed August 17 to stockholders of record on August 5.
The market value of the stock was $14 per share.

Aug. 5 Date of Record
17 Distributed the stock dividend

Oct. 2 Split its stock 2 for 1

Dec. 27 Declared a cash dividend of $.20 payable January 27, 2009, to stock holders or record on Janaury 14, 2009

Thank you so much

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