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."
$$\begin{array} { l l l l } 1 & \text { Cash } & 30 & \text { Retaired Earnings } \\10 & \text { Dividends Payable } & 31 & \text { Dividends } \\20 & \text { Ordirary Share, } \$ 1 \text { par } & 45 & \text { All Reverue and Gairs } \\21 & \text { Share Prerrium } & 50 & \text { All Expenses and Losses } \\24 & \text { Stock Dividend to Be Distributed } & & \\25 & \text { Treasury Share } & &\end{array}$$ $\begin{array}{llr}\text { Transactions } &\text { Account(s) } & \text { Account(s } \\&\text { Debited } & \text { Credited } \\ \text {Example Issued ordinary shares for cash at a price above par. } &1 & 20,21\\ \text { (a) Declared a 10\% stock dividend. Market price per share is } &\\ \text { higher than par. } &\\ \text { (b) Declared a cash dividend on ordinary share } &\\ \text {(c) Issue shares pursuant to stock dividend declared in a, above. } &\\ \text { (d) The dividend declared in \( \mathrm{b} \), above, is paid. } &\\ \text { (e) Reacquired shares of Sound view ordinary shares on the open market. } &\\ \text { (f) Reissued some of the shares reacquired in \( e \), above, at a} &\\ \text { price higher than cost. } &\\ \text { (g) Declared and distributed a 100\% stock dividend. } &\\ \text { Market price per share is higher than par value } &\\ \text { (h) Declared and distributed a 2-for-1 share split. Market price } &\\ \text { per share is higher than par value.} &\\\end{array}$