On January 1, 2022, Blossom Corporation had the following stockholders' equity accounts Common Stock (no par value, 90,000 shares issued and outstanding) $1,395,000 Retained Earnings 543,000 During the year, the following transactions occurred. Feb. 1 Mar. 1 Apr. 1 July 1 31 Dec. 1 31 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February. Announced a 3-for-1 stock split. Prior to the split, the market price per share was $39. Declared a 4% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $12 per share Issued the shares for the stock dividend Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2023. Determined that net income t come for the year was $313,000.
On January 1, 2022, Blossom Corporation had the following stockholders' equity accounts Common Stock (no par value, 90,000 shares issued and outstanding) $1,395,000 Retained Earnings 543,000 During the year, the following transactions occurred. Feb. 1 Mar. 1 Apr. 1 July 1 31 Dec. 1 31 Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February. Announced a 3-for-1 stock split. Prior to the split, the market price per share was $39. Declared a 4% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $12 per share Issued the shares for the stock dividend Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2023. Determined that net income t come for the year was $313,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Prepare the stockholders' equity section of the balance sheet at March 31. (Enter account na
nt name only and do not provide descriptive information)
BLOSSOM CORPORATION
Partial Balance Sheet
Transcribed Image Text:On January 1, 2022, Blossom Corporation had the following stockholders' equity accounts.
Common Stock (no par value. 90,000 shares issued and outstanding)
Retained Earnings
During the year, the following transactions occurred.
Feb. 1
Mar. 1
Apr. 1
July 1
31
Dec. 1
31
$1,395,000
543,000
Declared a $1 cash dividend per share to stockholders of record on February 15, payable March 1.
Paid the dividend declared in February
Announced a 3-for-1 stock split. Prior to the split, the market price per share was $39.
Declared a 4% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $12 per share
Issued the shares for the stock dividend.
Declared a $0.50 per share dividend to stockholders of record on December 15, payable January 5, 2023.
Determined that net income for the year was $313,000.
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