Camp Corporation had the following balances in its

stockholders equity #736

Camp Corporation had the following balances in its stockholders' equity at January 1:During the
year, Camp Corporation had the following transactions related to stockholders' equity:Mar. 1
Issued 200,000 shares of common stock for cash at $8 per share.July 1 Declared a 10% stock
dividend, payableAugust 1. The stock was trading at $7 per share on July 1.Aug. 15 Declared a
$0.50 per share cash dividend to stockholders of record on September 1, payable September
15.Oct. 1 Bought back 6,000 shares of common stock for $45,000.In addition to the above
transactions, assume that during the year Camp generated net income of $520,000.Requireda.
Prepare the journal entries to record the four transactions.b. Post all necessary items to a
Retained Earnings T-account to update the account.c. Prepare Camp's December 31
stockholders' equity section.d. Using end-of-year outstanding shares, calculate earnings per
share for the year.View Solution:
Camp Corporation had the following balances in its stockholders equity

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