Tycho Corporation started business operations on January 1, 2014. On January 1, 2015, Tycho has 400,000 shares of $10 par value common stock outstanding and $300,000 of retained earnings. During 2015, Tycho had the following transactions:
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Apr. 1 |
Declared a 10 cent per share cash dividend on common stock outstanding. |
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Apr. 15 |
Discovered an error made in 2011 that understated depreciation by $800. (Ignore tax efects). |
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May 15 |
Paid the cash dividend declared on April 1. |
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July 1 |
Declared a 2% stock dividend when the fair market value of the stock was $15. |
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Aug. 1 |
Issued the shares for the stock dividend. |
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Nov. 1 |
Effected a 2 for 1 stock split. |
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Dec. 1 |
Declared a 10 cent per share cash dividend on common stock outstanding. |
Instructions
Record the transactions above in the general journal. (Omit explanations).