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Note: ACCOUNTING CORPORATION

PLEASE ANSWER THE $4($four$)$ NEEDED TRANSACTIONS. Different Journal entries every number.The stockholders' equity of the Brookside Corp. on January $1,2020$ is given below:

Capital Stock

$8\%$ Preferred Stock, P$100$ par value, $3,000$ shares authorized, $2,000$ shares issued

Common stocks, P$50$ par value, $5,000$ shares authorized; $3,500$ shares issued

Additional Paid$-$in Capital:

Premium of Preferred Stock

Premium of Common Stock

Retained Earnings:

Unappropriated

Appropriated for Contingencies

Appropriated for Treasury Stocks

Appraisal Capital

Total

Less: Treasury Stocks, $250$ shares at cost

TOTAL STOCKHOLDERS' EQUITY

The following transactions that occurred during the year:

March $1,2020,$ the board of directors declared semi$-$annual dividend on preferred stocks and common stocks to stockholders

on record as of June $30,2020,$ to be paid on July $31,2020.$ The preferred stock is cumulative and no dividends have declared on

the prior year.

June $30,2020-$ An $8\%$ stock dividend on common stock was declared to stockholders of record as of August $31,2020$

payable on October $15,2020$; market value of common stock is P$58$ per share.

July $31,2020,$ Paid the preferred and common stocks dividends.

Distributed the stock dividends to common stockholders.

Please prepare all the entries for the above transactions. Show computations.

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