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The balance sheet of Hunter, Inc., included the following shareholders equity accounts at December 31,...

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Accounting

The balance sheet of Hunter, Inc., included the following shareholders equity accounts at December 31, 2019:

Paid-in capital: Dollar amounts

Common stock,472,600 shares 472,600

Paid-in capitalexcess of par, common 2 865,000

Retained earnings 4,915,000

Treasury stock, at cost; 2,400 common shares (36,600)

Total shareholders' equity 8,216,000

During 2020, several events and transactions affected the retained earnings of Hunter. Prepare the appropriate entries for the following events. Show all work for full credit.

a. On March 3 the board of directors declared and distributed a property dividend of 312,000 shares of Baruch International common stock that Hunter had purchased in January as an investment (book value: $962,000). The investment shares had a fair market value of $4.

b. On May 3 a 30% common stock dividend was declared and distributed. The market value of the common stock was $12 per share. (Hint: stock dividends are declared on outstanding shares only).

c. On July 5 a 5% common stock dividend was declared and distributed. The market value of the common stock was $14 per share.

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