Transactions related to retained earnings Retained earnings: Retained earnings are the portion of earnings kept by the business for the purpose of reinvestments, payment of debts, or for future growth. To journalize: The entries that affect the retained earnings in the years 2016, 2017, and 2018.

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Problem 18-5 (Static) Shareholders' equity transactions; statement of shareholders' equity [LO18-6,18- 7,18-8] Listed below are the transactions that affected the shareholders' equity of Branch-Rickle Corporation during the period 2021=2023. At December 31, 2020, the corporation's accounts included: 57:28 Common stock, 105 million shares at $1 par Paid-in capital-excess of par Retained earnings sin thousands) $105,000 630,000 970,000 at nces a. November 1, 2021, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December b On March 1, 2022, 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 $1.6 million, but were purchased two years previously for $1.3 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The…

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Chapter 18, Problem 18.4P

To determine

Transactions related to retained earnings

Retained earnings:

Retained earnings are the portion of earnings kept by the business for the purpose of reinvestments, payment of debts, or for future growth.

To journalize: The entries that affect the retained earnings in the years 2016, 2017, and 2018.

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Problem 18-5 (Static) Shareholders' equity transactions; statement of shareholders' equity [LO18-6,18- 7,18-8] Listed below are the transactions that affected the shareholders' equity of Branch-Rickle Corporation during the period 2021=2023. At December 31, 2020, the corporation's accounts included: 57:28 Common stock, 105 million shares at $1 par Paid-in capital-excess of par Retained earnings sin thousands) $105,000 630,000 970,000 at nces a. November 1, 2021, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December b On March 1, 2022, 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 $1.6 million, but were purchased two years previously for $1.3 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The…

Exercise 18-23 (Algo) Transactions affecting retained earnings [LO18-6, 18-7, 18-8] The balance sheet of Consolidated Paper, Incorporated, included the following shareholders' equity accounts at December 31, 2023: Paid-in capital: Preferred stock, 8.0%, 83,000 shares at $1 par Common stock, 333,300 shares at $1 par Paid-in capital-excess of par, preferred Paid-in capital-excess of par, common Retained earnings Treasury stock, at cost; 3,300 common shares Total shareholders' equity During 2024, several events and transactions affected the retained earnings of Consolidated Paper. Required: 1. Prepare the appropriate entries for these events: $ 83,000 333,300 1,455,000 2,505,000 8,345,000 (36,300) $ 12,685,000 a. On March 3, the board of directors declared a property dividend of 215,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an investment (book value: $632,000). The investment shares had a fair value of $3 per share and were…

Subject: Financial Accounting and Reporting Required:a. Determine the number of shares issued and outstanding on: Jan1  Mar31  Jun30  Sep30 b. Prepare the journal entries for the above transactions