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question november 1 2016 the board of directors declared a cash dividend of 80 per s 4278736

Question

November 1, 2016, the board of directors declared a cash dividend of $ 80 per share on its common shares, payable to shareholders of record November 15, to be paid December 1. On March 1, 2017, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment The bonds had a fair value of $1 6 million, but were purchased two years previously for $13 million Because they were intended to be held to maturity, the bonds had not been previously written up The property dividend was payable to shareholders of record March 13. to be distributed April 5 On July 12. 2017, the corporation declared and distributed a 5% common stock dividend (when the market value of the common stock was $21 per share) Cash was paid in lieu of fractional shares representing 250,000 equivalent whole shares On November 1. 2017, the board of directors declared a cash dividend of $ 80 per share on its common shares, payable to shareholders of record November 15. to be paid December 1 On January 15, 2018, the board of directors declared and distributed a 3-for-2 stock split effected in the form of a 50% stock dividend when the market value of the common stock was $22 per share On November 1. 2018. the board of directors declared a cash dividend of $ 65 per share on its common shares, payable to shareholders of record November 15, to be paid December 1 1 Prepare the journal entries that Branch-Rickie recorded during the three-year period for these transactions Require

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