08E91000 - Student Name: Class: Problem 18-05 Requirement...

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Student Name: Class: Problem 18-05 Requirement 1: BRANCH-RICKIE CORPORATION General Journal Account Debit Credit November 1 - declaration date Retained earnings A/c-----------Dr 84,000,000 To Cash dividends payable A/c 84,000,000 November 15 - date of record No Entry 0 0 December 1 - payment date Cash dividends payable A/c-----------Dr 84,000,000 To Cash A/c 84,000,000 March 1 - declaration date Investment in Warner bonds A/c---------- 300,000 To Gain on appreciation of investment A/c 300,000 Retained earnings A/c-----------Dr 1,600,000 To Property dividends payable A/c 1,600,000 March 13 - date of record No Entry 0 0 April 5 - payment date Property dividends payable A/c--------Dr 1,600,000 To Investment in Warner bonds A/c 1,600,000 July 12 Retained earnings A/c-----------Dr 110,250,000 To Common Stock A/c 5,000,000 To Paid in Excess par A/c 100,000,000 To Cash 5,250,000 November 1 - declaration date Retained earnings A/c-----------Dr 88,000,000 To Cash dividends payable A/c 88,000,000 105,000,000 + 5,000,000 = 110,000,000 shares November 15 - date of record No Entry 0 0 December 1 - payment date Cash dividends payable A/c-----------Dr 88,000,000 To Cash 88,000,000 January 15 Paid-in capital – excess of par A/c-------- 55,000,000 To Common stock A/c 55,000,000 November 1 - declaration date Retained earnings A/c-----------Dr 107,250,000 105,000,000 + 5,000,000 + 55,000,000 = 165,000,000 To Cash dividends payable A/c 107,250,000 November 15 - date of record No Entry 0 0 December 1 - payment date Cash dividends payable A/c-------Dr 107,250,000 To Cash 107,250,000
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Student Name: Class: Problem 18-05 Requirement 2: BRANCH-RICKIE CORPORATION Statement of Shareholders' Equity For the Years Ended December 31, 2009, 2010 and 2011 ($ in 000s) Total Common Additional Retained Shareholders' Stock Paid-in Capital Earnings Equity Jan. 1, 2009 105,000 630,000 970,000 1,705,000 Net income 330,000 330,000 Cash dividends
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08E91000 - Student Name: Class: Problem 18-05 Requirement...

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