Prepare Unilever s journal entry, using its account titles to record the issuanc
ID: 2496297 • Letter: P
Question
Prepare Unilever s journal entry, using its account titles to record the issuance of capital stock assuming that its entire par value stock was issued on December 31,2012 for cash what were Unilever's 2013 dividends assuming that only dividends and income impact retained, profit for 2013 income 5,263? in the year 2016 the following transactions affected its stockholders' equity accounts jan 2 Purchased 3.000 shares of its own stock at $25 cash per share. Jan 7 Director, declared a SI .50 per share cash dividend payable on Feb. 28 to the Feb. 9 stockholder. of record. Feb 28 paid the dividend declared on January 7. july 9 Sold 1.200 of its treasury shares at $30 cash per share. Aug. 27 Sold 1.500 of its treasury shares at S20 cash per share. Sept 9 Directors declared a S2 per share cash dividend payable on October 22 to the September 23 stockholders of record. Oct 22 Paid the dividend declared on September 9. Dec. 31 closed the $52,000 credit balance (from net income) in the Income Summary account to Retained timings. Required Prepare journal entries to record each of these transactions for 2016. Prepare a statement of retained earnings for the year ended December 31.2016. Prepare the stockholders' equity section of the company's balance sheet as of December 31. 2016.Explanation / Answer
DR CR Jan-02 Treasury Stock common 105000 Cash 105000 (25*3000 =105000) Jan-07 Retained earnings 40500 Common dividend payable 40500 (1.50*(30000-3000 )shares) Feb-28 Commin dividend Payable 40500 Cash 40500 Jul-09 Cash 36000 Treassury Stock common 30000 paid in capital treassury stock 6000 Aug-27 Cash 30000 Paid in capital,Treasury stock 6000 Retained earnings 1500 Treasury stock common 37500 Sep-09 Retained earnings (27000 shares+1200+1500)*2 59400 Common dividend Payable 59400 Common dividend payable 59400 Cash 59400 Income summary 52000 Retained earnings 52000 430300 430300 Statement Of Retained Earnings Retained Earnings December 31 2015 340000 Add Net Income 52000 Less Cash Dividend(40500+59400) 99900 Less Treasury stock Reissuance's 1500 Retained earnings December 31 2016 290600 Stockholder Equity Sections Common stock(29700*25) 742500 paid in Capital excess of par value,common stock =70000+6000-6000 70000 Reatined earning 290600 Less cost of Treassury stock (105000-30000-37500) 37500 Total stock holder equity 1065600