Question

On January 1, 2018, Oak Corporation had 83,000 common shares, recorded at $644,000, and retained earnings of $920,000. During the year, the following transactions occurred:

Apr.	2		Issued 5,200 common shares at $20 per share.
June	15		Declared a cash dividend of $0.15 per share to common shareholders of record on June 30, payable on July 10.
Aug.	21		Declared a 5% stock dividend to common shareholders of record on September 5, distributable on September 20. The shares were trading for $22 a share on August 21, $24 on September 5, and $27 on September 20.
Nov.	1		Issued 3,100 common shares at $25 per share.
Dec.	20		Declared a cash dividend of $0.20 per share to common shareholders of record on December 31, payable on January 10.

Record the above transactions for 2018. (Note: Closing entries are not required.) (Credit account titles are automatically indented when the 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. Round answers to 0 decimal places, e.g. 5,275.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date                                                                      Apr. 2June 15July 10Aug. 21Sept. 20Nov. 1Dec. 20	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                                                                      Apr. 2June 15July 10Aug. 21Sept. 20Nov. 1Dec. 20	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                                                                      Apr. 2June 15July 10Aug. 21Sept. 20Nov. 1Dec. 20	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                                                                      Apr. 2June 15July 10Aug. 21Sept. 20Nov. 1Dec. 20	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                                                                      Apr. 2June 15July 10Aug. 21Sept. 20Nov. 1Dec. 20	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                                                                      Apr. 2June 15July 10Aug. 21Sept. 20Nov. 1Dec. 20	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                                                                      Apr. 2June 15July 10Aug. 21Sept. 20Nov. 1Dec. 20	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount

Answer 1

Date	Account Titles	Debit	Credit
2018		$	$
Apr 2	Cash	104,000
	Common Stock		104,000
June 15	Cash Dividends	13,230
	Dividends Payable		13,230
June 30	No entry	0
	No entry		0
July 10	Dividends Payable	13,230
	Cash		13,230
Aug 21	Stock Dividends [ ( 83,000 + 5,200) x 5 % ] x $ 22	97,020
	Common Stock Dividends Distributable		97,020
Sep 5	No entry	0
	No entry		0
Sep 20	Common Stock Dividend Distributable	97,020
	Common Stock		97,020
Nov 1	Cash	77,500
	Common Stock		77,500
Dec 20	Cash Dividends	18,522
	Dividends Payable		18,522
Dec 31	No entry	0
	No entry		0
Dec 31	Retained Earnings	31,752
	Cash Dividends		31,752
Dec 31	Retained Earnings	97,020
	Stock Dividends		97,020