During 2024, several events and transactions affected the retained earnings of Consolidated
Paper Required: 1. Prepare the appropriate entries for these events a. On March 3, the board of
directors declared a property dividend of 205,000 shares of Leasco internationat common stock
that Consolidated Poper had purchased in January as an investment (book value $604,000 ) The
investment shares had a fair value of $3 per share and were distributed March 31 to shareholders
of record March is. b. On Moy 3, a 5 for-4 stock split was declared and distributed. The stock
split was effected in the form of a 25% stock dividend. The market value of the $1 par common
stock was $11 per share. c. On July 5, a 286 common stock dividend was declared and
distributed. The market value of the common stock was $11 per share. a On December 1, the
board of directors dectared the 9.0% cosh dividend on the 81000 preferred shares, payable on
December 28 to shareholders of record December 20 . e. On December 1, the board of directors
dectared a cosh dividend of 50.50 per share on its common shares, payable on December 28 to
shareholders of record December 20 2. Prepare the shareholders' equity section of the balance
sheet for Consolidated Papec, incorporated ot Decenber 31, 2024. Net income for the yeor was
$710,000..
During 2024, several events and transactions affected the retained ea.pdf
1. During 2024, several events and transactions affected the retained earnings of Consolidated
Paper Required: 1. Prepare the appropriate entries for these events a. On March 3, the board of
directors declared a property dividend of 205,000 shares of Leasco internationat common stock
that Consolidated Poper had purchased in January as an investment (book value $604,000 ) The
investment shares had a fair value of $3 per share and were distributed March 31 to shareholders
of record March is. b. On Moy 3, a 5 for-4 stock split was declared and distributed. The stock
split was effected in the form of a 25% stock dividend. The market value of the $1 par common
stock was $11 per share. c. On July 5, a 286 common stock dividend was declared and
distributed. The market value of the common stock was $11 per share. a On December 1, the
board of directors dectared the 9.0% cosh dividend on the 81000 preferred shares, payable on
December 28 to shareholders of record December 20 . e. On December 1, the board of directors
dectared a cosh dividend of 50.50 per share on its common shares, payable on December 28 to
shareholders of record December 20 2. Prepare the shareholders' equity section of the balance
sheet for Consolidated Papec, incorporated ot Decenber 31, 2024. Net income for the yeor was
$710,000.
