Equity Transactions-Journal Entries
a Partial List of the Ledger Accounts

Equity transactions-journal entries
A partial list of the ledger accounts of Soundview Corporation is shown below, followed by a list of transactions. Indicate the accounts that would be debited and credited in recording each transaction by placing the appropriate account number(s) in the space provided. If no journal entry is required for a particular transaction, use "None."
$\begin{array}{|l|l|l|l|}\hline 1 & \text { Cash } & 30 & \text { Retained Earnings } \\\hline 10 & \text { Dividends Payable } & 31 & \text { Dividends } \\\hline 20 & \text { Common Stock, \$1 par } & 45 & \text { All Revenue and Gains } \\\hline 21 & \text { Additional Paid-In Capital } & 50 & \text { All Expenses and Losses } \\\hline 24 & \text { Stock Dividend to Be Distributed } & & \\\hline 25 & \text { Treasury Stock } & & \\\hline\end{array}$ $$\begin{array} { | l | l | l | l | } \hline & \text { Transactions } & \begin{array} { l } \text { Account(s) } \\\text { Debited }\end{array} & \begin{array} { l } \text { Account(s) } \\\text { Credited }\end{array} \\\hline & \begin{array} { l } \text { Example: Issued common stock for cash at a } \\\text { price above par. }\end{array} & 1 & 20,21 \\\hline \text { (a) } & \begin{array} { l } \text { Declared a } 10 \% \text { stock dividend. Market price per } \\\text { share is higher than par. }\end{array} & & \\\hline \text { (b) } & \text { Declared a cash dividend on common stock. } & & \\\hline \text { (c) } & \begin{array} { l } \text { Issues shares pursuant to stock dividend declared } \\\text { in (a), above. }\end{array} & & \\\hline \text { (d) } & \text { The dividend declared in (b), above, is paid. } & & \\\hline \text { (e) } & \begin{array} { l } \text { Reacquired shares of Soundview common stock } \\\text { on the open market. }\end{array} & & \\\hline \text { (f) } & \begin{array} { l } \text { Reissued some of the shares reacquired in (e), } \\\text { above, at a price higher than cost. }\end{array} & & \\\hline \text { (g) } & \begin{array} { l } \text { Declared and distributed a 100\% stock dividend. } \\\text { Market price per share is higher than par value. }\end{array} & & \\\hline \text { (h) } & \begin{array} { l } \text { Declared and distributed a 2-for-1 stock split. } \\\text { Market price per share is higher than par value. }\end{array} & & \\\hline\end{array}$$