1. VB Corporation has the following accounts at December 31, 2014: Common Stock, $10 par; 5,000 shares issued, $50,000; Paid-In Capital in Excess of Par -- Common Stock $30,000; Retained Earnings $45,000; and Treasury Stock, 500 shares, $11,000. Prepare the stockholders' equity section of the balance sheet.
2. R&T Corporation has 80,000 shares of common stock outstanding. It declares a $1 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend.
3. Beasly Corporation has 50,000 of $10 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $16. The dividend shares are issued on December 31. Prepare the entries for the declaration and payment of the stock dividend.