Problem 144The stockholders’ equity section of Benton Corporation’s balance sheet as of December 31,

Problem 144The stockholders’ equity section of Benton Corporation’s balance sheet as of December 31, 2017 is as follows:Stockholders’ EquityCommon stock, $5 par value; authorized, 1,500,000 shares; issued, 300,000 shares $1,500,000Paid-in capital in excess of par 840,000Retained earnings 3,060,0005400000The following events occurred during 2018:1.Jan. 532,000 shares of authorized and unissued common stock were sold for $8 per share.2.Jan. 16Declared a cash dividend of 20 cents per share, payable February 15 to stock-holders of record on February 5.3.Feb. 1040,000 shares of authorized and unissued common stock were sold for $13 per share.4.March 1A 30% stock dividend was declared and issued. Fair value per share is currently $15.5.April 1A two-for-one split was carried out. The par value of the stock was to be reduced to $2.50 per share. Fair value on March 31 was $18 per share.6.July 1A 15% stock dividend was declared and issued. Fair value is currently $10 per share.7.Aug. 1A cash dividend of 20 cents per share was declared, payable September 1 to stockholders of record on August 21.Enter the above events into the following work sheet showing how each event affects the column.Common StockItemNo. ofShares IssuedTotalPar ValuePaid-in Capital inExcess of ParRetainedEarnings

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