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PR 13-4A Entries for selected corporate transactions Tolbert Enterprises Inc. manufactures bathroom fixtures. The stockholders' equity a OBJ. 3, 4, 5,6 of Tolbert Enterprises Inc., with balances on January 1, 2012, are as follows: $4,000,000 750,000 ....9,150,000 4. Total stockholders' equity, $15,599,960 Common Stock, $10 stated value (600,000 shares Paid-In Capital in Excess of Stated Value Treasury Stock (40,000 shares, at cost) GL The following selected transactions occurred during the year: Jan. 4. Paid cash dividends of $0.13 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $46,800. Apr. 3. Issued 75,000 shares of common stock for $1,200,000. June 6. Sold all of the treasury stock for $725,000. July 1, Declared a 4% stock dividend on common stock, to be capitalized at the mar- ket price of the stock, which is $18 per share. Aug. 15. Issued the certificates for the dividend declared on July 1. Nov. 10. Purchased 25,000 shares of treasury stock for $500,000. Dec. 27. Declared a $0.16-per-share dividend on common stock. 31. Closed the credit balance of the income summary account, S 31. Closed the two dividends accounts to Retained Earnings. 950,000 Instructions 1. Enter the January 1 balances in T accounts for the stockholders' equity accounts s listed sury Stock Also prepare T accounts for the following: Paid-In Capital from Sale of fr Stock Dividends Distributable; Stock Dividends; Cash Dividends. 2. Journalize the entries to record the transactions, and post to the eight accounts

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