Question

On January 1, 2022, Riverbed Corp. had these stockholders’ equity accounts. Common Stock ($10 par value, 71,500 shares issued and outstanding) $715,000 Paid-in Capital in Excess of Par Value 486,500 Retained Earnings 665,000 During the year, the following transactions occurred. Jan. 15 Declared a $0.60 cash dividend per share to stockholders of record on January 31, payable February 15. Feb. 15 Paid the dividend declared in January. Apr. 15 Declared a 10% stock dividend to stockholders of record on April 30, distributable May 15. On April 15, the market price of the stock was $12 per share. May 15 Issued the shares for the stock dividend. Dec. 1 Declared a $0.70 per share cash dividend to stockholders of record on December 15, payable January 10, 2023. Dec. 31 Determined that net income for the year was $363,000. Journalize the transactions. (Include entries to close net income and dividends to Retained Earnings.) (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date enter an account title to close net income enter a debit amount enter a credit amount enter an account title to close net income enter a debit amount enter a credit amount (To close net income) choose a transaction date enter an account title to close stock dividends enter a debit amount enter a credit amount enter an account title to close stock dividends enter a debit amount enter a credit amount (To close stock dividends) choose a transaction date enter an account title to close cash dividends enter a debit amount enter a credit amount enter an account title to close cash dividends enter a debit amount enter a credit amount (To close cash dividends) eTextbook and Media List of Accounts Enter the beginning balances and post the entries to the stockholders’ equity T-accounts. (Post entries in the order of journal entries posted in the previous part. For accounts that have zero ending balance, the entry should be the balance date and zero for the amount.) Common Stock choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose the end date of the accounting period enter a debit balance choose the end date of the accounting period enter a credit balance Retained Earnings choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose the end date of the accounting period enter a debit balance choose the end date of the accounting period enter a credit balance Paid-in Capital in Excess of Par Value choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose the end date of the accounting period enter a debit balance choose the end date of the accounting period enter a credit balance Cash Dividends choose a transaction date enter a debit amount choose the end date of the accounting period enter a credit balance choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose the end date of the accounting period enter a debit balance choose the end date of the accounting period enter a credit balance Common Stock Dividends Distributable choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose the end date of the accounting period enter a debit balance choose the end date of the accounting period enter a credit balance Stock Dividends choose a transaction date enter a debit amount choose a transaction date enter a credit amount choose the end date of the accounting period enter a debit balance choose the end date of the accounting period enter a credit balance eTextbook and Media List of Accounts Prepare the stockholders’ equity section of the balance sheet at December 31. RIVERBED CORP. Partial Balance Sheet choose the accounting period select an opening section name select an opening subsection name select a name of the subordinate part of this subsection enter a balance sheet item $enter a dollar amount select a name of the subordinate part of this subsection enter a balance sheet item enter a dollar amount select a closing subsection name enter a total amount for this subsection enter a balance sheet item enter a dollar amount select a closing section name $enter a total amount for this section eTextbook and Media List of Accounts Calculate the payout ratio and return on common stockholders’ equity. (Round answers to 1 decimal place, e.g. 12.5%.) Payout ratio enter payout ratio in percentages % Return on common stockholders’ equity enter return on common stockholders’ equity ratio in percentages % eTextbook and Media List of Accounts

Answer 1