1, 2025, the board of directors declared a cash dividend of $0.90 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. On January 15, 2026, the board of directors declared and distributed a 3-for-2 stock split effected in the form of a 50% stock dividend when the market value of the common stock was $16 per share. On November 1, 2026, the board of directors declared a cash dividend of $0.75 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. Required: Prepare the journal entries that Branch - Rickie recorded during the three-year period for these transactions. Prepare comparative statements of shareholders' equity for Branch - Rickie for the three-year period ($ in 000s). Net income was $370 million, $435 million, and $495 million for 2024, 2025, and 2026, respectively. Listed below are the transactions that affected the shareholders' equity of Branch - Rickie Corporation during the period 2024-2026. At December 31, 2023, the corporation's accounts included: ($ in thousands) Common stock, 108 million shares at $1 par $ 108,000 Paid - in capital-excess of par 648,000 Retained earnings 870,000 November 1, 2024, the board of directors declared a cash dividend of $0.90 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. On March 1, 2025, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch - Rickie was holding as an investment. The bonds had a fair value of $2.3 million, but were purchased two years previously for $2.0 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The property dividend was payable to shareholders of record March 13, to be distributed April 5. On July 12, 2025, the corporation declared and distributed a 8% common stock dividend (when the market value of the common stock was $15 per share). Cash was paid in lieu of fractional shares representing 640,000 equivalent whole shares. On November
1, 2025, the board of directors declared a cash dividend of $0.90 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. On January 15, 2026, the board of directors declared and distributed a 3-for-2 stock split effected in the form of a 50% stock dividend when the market value of the common stock was $16 per share. On November 1, 2026, the board of directors declared a cash dividend of $0.75 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. Required: Prepare the journal entries that Branch - Rickie recorded during the three-year period for these transactions. Prepare comparative statements of shareholders' equity for Branch - Rickie for the three-year period ($ in 000s). Net income was $370 million, $435 million, and $495 million for 2024, 2025, and 2026, respectively. Listed below are the transactions that affected the shareholders' equity of Branch - Rickie Corporation during the period 2024-2026. At December 31, 2023, the corporation's accounts included: ($ in thousands) Common stock, 108 million shares at $1 par $ 108,000 Paid - in capital-excess of par 648,000 Retained earnings 870,000 November 1, 2024, the board of directors declared a cash dividend of $0.90 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. On March 1, 2025, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch - Rickie was holding as an investment. The bonds had a fair value of $2.3 million, but were purchased two years previously for $2.0 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The property dividend was payable to shareholders of record March 13, to be distributed April 5. On July 12, 2025, the corporation declared and distributed a 8% common stock dividend (when the market value of the common stock was $15 per share). Cash was paid in lieu of fractional shares representing 640,000 equivalent whole shares. On November
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter12: Statement Of Stockholders’ Equity (stockeq)
Section: Chapter Questions
Problem 3R: Chen Corporation began 2012 with the following stockholders equity balances: The following selected...
Related questions
Question
![1, 2025, the board of directors declared a cash dividend of $0.90 per share on its common
shares, payable to shareholders of record November 15, to be paid December 1. On
January 15, 2026, the board of directors declared and distributed a 3-for-2 stock split
effected in the form of a 50% stock dividend when the market value of the common stock
was $16 per share. On November 1, 2026, the board of directors declared a cash dividend
of $0.75 per share on its common shares, payable to shareholders of record November 15,
to be paid December 1. Required: Prepare the journal entries that Branch - Rickie recorded
during the three-year period for these transactions. Prepare comparative statements of
shareholders' equity for Branch - Rickie for the three-year period ($ in 000s). Net income
was $370 million, $435 million, and $495 million for 2024, 2025, and 2026, respectively.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff24fd486-d22c-49cf-ad22-3ec246a7d48d%2F84a10198-11d6-456a-836d-1779e3d7dd0d%2Fyt8p4w4_processed.png&w=3840&q=75)
Transcribed Image Text:1, 2025, the board of directors declared a cash dividend of $0.90 per share on its common
shares, payable to shareholders of record November 15, to be paid December 1. On
January 15, 2026, the board of directors declared and distributed a 3-for-2 stock split
effected in the form of a 50% stock dividend when the market value of the common stock
was $16 per share. On November 1, 2026, the board of directors declared a cash dividend
of $0.75 per share on its common shares, payable to shareholders of record November 15,
to be paid December 1. Required: Prepare the journal entries that Branch - Rickie recorded
during the three-year period for these transactions. Prepare comparative statements of
shareholders' equity for Branch - Rickie for the three-year period ($ in 000s). Net income
was $370 million, $435 million, and $495 million for 2024, 2025, and 2026, respectively.
![Listed below are the transactions that affected the shareholders' equity of Branch - Rickie
Corporation during the period 2024-2026. At December 31, 2023, the corporation's
accounts included: ($ in thousands) Common stock, 108 million shares at $1 par $ 108,000
Paid - in capital-excess of par 648,000 Retained earnings 870,000 November 1, 2024, the
board of directors declared a cash dividend of $0.90 per share on its common shares,
payable to shareholders of record November 15, to be paid December 1. On March
1, 2025, the board of directors declared a property dividend consisting of corporate bonds
of Warner Corporation that Branch - Rickie was holding as an investment. The bonds had a
fair value of $2.3 million, but were purchased two years previously for $2.0 million. Because
they were intended to be held to maturity, the bonds had not been previously written up.
The property dividend was payable to shareholders of record March 13, to be distributed
April 5. On July 12, 2025, the corporation declared and distributed a 8% common stock
dividend (when the market value of the common stock was $15 per share). Cash was paid
in lieu of fractional shares representing 640,000 equivalent whole shares. On November](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff24fd486-d22c-49cf-ad22-3ec246a7d48d%2F84a10198-11d6-456a-836d-1779e3d7dd0d%2Fvb3iiml_processed.png&w=3840&q=75)
Transcribed Image Text:Listed below are the transactions that affected the shareholders' equity of Branch - Rickie
Corporation during the period 2024-2026. At December 31, 2023, the corporation's
accounts included: ($ in thousands) Common stock, 108 million shares at $1 par $ 108,000
Paid - in capital-excess of par 648,000 Retained earnings 870,000 November 1, 2024, the
board of directors declared a cash dividend of $0.90 per share on its common shares,
payable to shareholders of record November 15, to be paid December 1. On March
1, 2025, the board of directors declared a property dividend consisting of corporate bonds
of Warner Corporation that Branch - Rickie was holding as an investment. The bonds had a
fair value of $2.3 million, but were purchased two years previously for $2.0 million. Because
they were intended to be held to maturity, the bonds had not been previously written up.
The property dividend was payable to shareholders of record March 13, to be distributed
April 5. On July 12, 2025, the corporation declared and distributed a 8% common stock
dividend (when the market value of the common stock was $15 per share). Cash was paid
in lieu of fractional shares representing 640,000 equivalent whole shares. On November
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 1 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Excel Applications for Accounting Principles](https://www.bartleby.com/isbn_cover_images/9781111581565/9781111581565_smallCoverImage.gif)
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
![Excel Applications for Accounting Principles](https://www.bartleby.com/isbn_cover_images/9781111581565/9781111581565_smallCoverImage.gif)
Excel Applications for Accounting Principles
Accounting
ISBN:
9781111581565
Author:
Gaylord N. Smith
Publisher:
Cengage Learning
![Cornerstones of Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781337690881/9781337690881_smallCoverImage.gif)
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
![Financial Accounting](https://www.bartleby.com/isbn_cover_images/9781305088436/9781305088436_smallCoverImage.gif)
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
![Financial & Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781285866307/9781285866307_smallCoverImage.gif)
Financial & Managerial Accounting
Accounting
ISBN:
9781285866307
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning