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 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. 31 Issued the shares for the stock dividend. Dec. 1 Declared a $0,40 per share dividend to stockholders of record on December 15, payable January 5, 2023. 31 Determined that net income for the year was $325,000. Stockholders' Equity Prepare a stockholders' equity section at December 31. (Enter account name only and do not provide descriptive information.) Paid-in Capital Capital Stock Common Stock Additional Paid-in Capital Total Paid-in Capital Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings $1,132,000 Total Stockholders' Equity 198,000 563.000 December 31, 2022 Blue Spruce Corp. Balance Sheet (Partial) ; # V BOUG 1245200 141400 1386600 498592 1885192
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 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. 31 Issued the shares for the stock dividend. Dec. 1 Declared a $0,40 per share dividend to stockholders of record on December 15, payable January 5, 2023. 31 Determined that net income for the year was $325,000. Stockholders' Equity Prepare a stockholders' equity section at December 31. (Enter account name only and do not provide descriptive information.) Paid-in Capital Capital Stock Common Stock Additional Paid-in Capital Total Paid-in Capital Paid-in Capital in Excess of Stated Value-Common Stock Retained Earnings $1,132,000 Total Stockholders' Equity 198,000 563.000 December 31, 2022 Blue Spruce Corp. Balance Sheet (Partial) ; # V BOUG 1245200 141400 1386600 498592 1885192
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Can you help me correct my errors and post a stockerholders' equity
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) $1,132,000
Paid-in Capital in Excess of Par-Common Stock
198,000
Retained Earnings
During the year, the following transactions occurred.
Feb. 1
Mar. 1
Apr. 1
July 1
31
Dec. 1
31
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.
Prepare a stockholders' equity section at December 31. (Enter account name only and do not provide
descriptive information.)
Stockholders' Equity
Paid-in Capital
Capital Stock
Common Stock
Additional Paid-in Capital
Total Paid-in Capital
563,000
Paid-in Capital in Excess of Stated Value-Common Stock
Retained Earnings
Total Stockholders' Equity
Blue Spruce Corp.
Balance Sheet (Partial)
December 31, 2022
$
+
1245200
Gome
141400
1386600
498592
1885192
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