Financial accounting: tools for business decision making, ninth edition wileyplus custom course for the university of akron
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problem 11-08a (part level submission)
on january 1, 2022, indigo corporation had these stockholders' equity accounts.
common stock ($10 par value, 75,000 shares issued and outstanding)
paid-in capital in excess of par value
retained earnings
$750,000
490,000
700,000
sion)
during the year, the following transactions occurred.
study
jan. 15
feb. 15
apr. 15
may 15
dec. 1
dec. 31
declared a $0.60 cash dividend per share to stockholders of record on january 31, payable february 15.
paid the dividend declared in january
declared a 10% stock dividend to stockholders of record on april 30, distributable may 15. on april 15, the market price of the stock was $13 per share.
issued the shares for the stock dividend.
declared a $0.70 per share cash dividend to stockholders of record on december 15, payable january 10, 2023.
determined that net income for the year was $370,000.