On January 1, 2022, Blue Spruce Corp. had the following stockholders' equity accounts. Common Stock ($20 par value, 56,600 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings During the year, the following transactions occurred. Mar. 1 Apr. 1 July 1 Feb. 1 Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February. Announced a 2-for-1 stock split. Prior to the split, the market price per share was $39. Declared a 10% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $15 per share. Issued the shares for the stock dividend. Declared a $0.40 per share dividend to stockholders of record on December 15, payable January 5, 2023. Determined that net income for the year was $325,000. 31 Dec. 1 $1,132,000 31 198,000 563,000
On January 1, 2022, Blue Spruce Corp. had the following stockholders' equity accounts. Common Stock ($20 par value, 56,600 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings During the year, the following transactions occurred. Mar. 1 Apr. 1 July 1 Feb. 1 Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 1. Paid the dividend declared in February. Announced a 2-for-1 stock split. Prior to the split, the market price per share was $39. Declared a 10% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $15 per share. Issued the shares for the stock dividend. Declared a $0.40 per share dividend to stockholders of record on December 15, payable January 5, 2023. Determined that net income for the year was $325,000. 31 Dec. 1 $1,132,000 31 198,000 563,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Subject : Accounting
Transcribed Image Text:On January 1, 2022, Blue Spruce Corp. had the following stockholders' equity accounts.
Common Stock ($20 par value, 56,600 shares issued and outstanding)
Paid-in Capital in Excess of Par-Common Stock
Retained Earnings
During the year, the following transactions occurred.
Feb. 1
Mar. 1
Apr. 1
July 1
31
Dec. 1
31
$1,132,000
198,000
563,000
Declared a $3 cash dividend per share to stockholders of record on February 15, payable March 1.
Paid the dividend declared in February.
Announced a 2-for-1 stock split. Prior to the split, the market price per share was $39.
Declared a 10% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price of
the stock was $15 per share.
Issued the shares for the stock dividend.
Declared a $0.40 per share dividend to stockholders of record on December 15, payable January 5, 2023.
Determined that net income for the year was $325,000.
Transcribed Image Text:Prepare a stockholders' equity section at December 31. (Enter account name only and do not provide
descriptive information.)
Blue Spruce Corp.
Balance Sheet (Partial)
+
+
$
$
+
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