Oliver CommuRNcations, Inc., began 2018 with 260,000 shares of $1 par common stock issUd and outstarang BagiinR in excoss of par common was St60,000, and retained eamings was $810,000. In April 2018, Oliver Communications, Inc., insued 20 shares of stock at $8 per share. In September, when the stock's market price was $15 per share, the board of directors distributed a 1. percent stock dividend Read the requirements
Oliver CommuRNcations, Inc., began 2018 with 260,000 shares of $1 par common stock issUd and outstarang BagiinR in excoss of par common was St60,000, and retained eamings was $810,000. In April 2018, Oliver Communications, Inc., insued 20 shares of stock at $8 per share. In September, when the stock's market price was $15 per share, the board of directors distributed a 1. percent stock dividend Read the requirements
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter13: Corporations: Organization, Stock Transactions, And Dividends
Section: Chapter Questions
Problem 22E
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Please help me
![Requirement 2. Prepare the company's statement of stockholders' equity for the year ended December 31, 2018. (Enter the labels in
chronological order. Use parentheses or a minus sign when subtracting numbers. For accounts with a S0 balance, leave the cell blank Do
not enter a "0".)
Oliver Communications, Inc.
Statement of Stockholders' Equity
Year Ended December 31, 2018
Additional
Common
paid-in
Retained
Total
stock
capital
earnings](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F354690be-5046-478b-acdb-02c62dd239f4%2Fdec6ca6f-328f-46a5-92c2-c7d7aaf5ce20%2Fe76yld9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Requirement 2. Prepare the company's statement of stockholders' equity for the year ended December 31, 2018. (Enter the labels in
chronological order. Use parentheses or a minus sign when subtracting numbers. For accounts with a S0 balance, leave the cell blank Do
not enter a "0".)
Oliver Communications, Inc.
Statement of Stockholders' Equity
Year Ended December 31, 2018
Additional
Common
paid-in
Retained
Total
stock
capital
earnings
![Oliver Communvcations, Inc, began 2018 with 2G0,000 shares of $1 par common stock issued and outstanding Beginning Paidin capital
in excess of par common was $550,000, and retained eamings was $810,000. In April 2018, Oliver Communications, Inc, issued 20,000
shares of stock at $8 per share. In September, when the stock's market price was $15 per share, the board of directors distributed a 10
percent stock dividend
Read the requirements
Requirement 1 Make the journal entries for the issuance of stock for cash and for the declaration and distribution of the 10 percent stock
dividend (Record debits first, then credits. Exclude explanations from any journal entries.)
Record the issuance of common stock for cash.
Journal Entry
Date
Accounts
Debit
Credit
Apr
Record the deciaration and distribution of the stock dividend.
Journal Entry
Date
Accounts
Debit
Credit
Sep
Requirement 2. Prepare the company's statement of stockholders' equity for the year ended December 31, 2018. (Enter the labels in
chronological order. Use parentheses or a minus sign when subtracting numbers For accounts with a $0 balance, leave the cell blank. Do](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F354690be-5046-478b-acdb-02c62dd239f4%2Fdec6ca6f-328f-46a5-92c2-c7d7aaf5ce20%2Fflvrth_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Oliver Communvcations, Inc, began 2018 with 2G0,000 shares of $1 par common stock issued and outstanding Beginning Paidin capital
in excess of par common was $550,000, and retained eamings was $810,000. In April 2018, Oliver Communications, Inc, issued 20,000
shares of stock at $8 per share. In September, when the stock's market price was $15 per share, the board of directors distributed a 10
percent stock dividend
Read the requirements
Requirement 1 Make the journal entries for the issuance of stock for cash and for the declaration and distribution of the 10 percent stock
dividend (Record debits first, then credits. Exclude explanations from any journal entries.)
Record the issuance of common stock for cash.
Journal Entry
Date
Accounts
Debit
Credit
Apr
Record the deciaration and distribution of the stock dividend.
Journal Entry
Date
Accounts
Debit
Credit
Sep
Requirement 2. Prepare the company's statement of stockholders' equity for the year ended December 31, 2018. (Enter the labels in
chronological order. Use parentheses or a minus sign when subtracting numbers For accounts with a $0 balance, leave the cell blank. Do
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