Answer:
Retained Earnings 167,400 debit
common stock 55,800 credit
addtional paid-in 111,600 credit
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Dividends 121,520 debit
Div Payable 121,520 credit
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Div Payable 121,520 debit
Cash 121,520 credit
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Retained Earnings 68,200 debit
common stock 24,800 credit
addtional paid-in 43,400 credit
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Div Payable 139,655 debit
Cash 139,655 credit
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Explanation:
13,950 shares x $12 = 167,400
13,950 shares x $ 4 = 55,800
additional 111,600
cash dividedns
62,000 + 13,950 = 75,950 shares
75,950 shares x $ 1.60 = $121,520
6,200 shares x $11 = 68,200
6,200 shares x $ 4 =<u> 24,800 </u>
additional 43,400
cash dividends #2
75,950 + 6,200 = 82,150 shares
82,150 x $ 1.70 = 139,655