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  • Apr 2, 2013, 03:44 PM
    Manpasos
    Dividend journal entry
    Can somebody help me with this entries?

    The balance sheet for the clarke corporation reported the following components of equity on dec 31/2011

    Common shares , unlimited shares authorized, 20000 shares issued and outstanding $460 000 Retained earnings 270 000 Equity. 730 000

    In 2012 Clarke corporation had following transactions affecting shareholders and the equity accounts

    Jan 5... the directors declared $4 / share cash dividend payable feb 28 to the feb 5 share


    Feb 28... paid the dividend declared on January 5

    July 6... sold 750 common shares at 48/share

    Aug 22... sold 1250 common shares at 34/share

    Sept 5... the directors declared a $4/share cash dividend payable on oct 28 to oct 5 shareholder

    Oct 28... paid the dividend on sept 5

    Dec 31 closed the &434000 credit balance in the income summary account

    Dec 31 closed the cash dividends account


    1.prepare journal entries to record the transactions and closings for 2012

    2. Prepare a statement of changed in equity for the year ended dec 31 2012

    3. Prepare the equity section of the corporations balance sheet ad of dec 31... 2012

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