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Please PROBLEM 5 (15 points): On January 1,2017, Getsi Corporation had the...

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Accounting

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PROBLEM 5 (15 points): On January 1,2017, Getsi Corporation had the following stockholders' equity accounts. Common Stock ($10 par value, 100,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock $1,000,000 200,000 450,000 During the year, the following transactions occurred. Jan. 15 Declared a $1 cash dividend per share to stockholders of record on January 31, payable February 15 Feb. 15 Paid the dividend declared in January Mar. 1 Issued 10,000 shares of common stock at $12 per share 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 $13 per share. May 15 Issued the shares for the stock dividend. June 20 Purchased 2,000 shares of its $10 par common stock at $15 per share. July 1 Announced a 2-for-1 stock split. The market price per share prior to the announcement was $17 Dec. 1 Declared a $0.50 per share cash dividend to stockholders of record on December 15, payable Jan.5, 2018 Dec. 31 Determined that net income for the year was $200,000 Instructions. Jounalize the transactions and closing entries for net income and dividends. Note: Write clearly and use complete account names [do not abbreviatel

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