ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 322

entered. Do not indent manually. If no entry is required, select
"No Entry" for the account titles and enter 0 for the amounts.)

(b) How would the entry differ if the dividend were a liquidating
dividend? (Credit account titles are automatically indented when
amount is entered. Do not indent manually. If no entry is
required, select "No Entry" for the account titles and enter 0 for
the amounts.)

5) Shown below is the liabilities and stockholders’ equity
section of the balance sheet for Jana Kingston Company and
Mary Ann Benson Company. Each has assets totaling
$4,517,200.

Jana Kingston Co.

Current liabilities
liabilities

Long-term debt, 8%
stock ($20 par)

Mary Ann Benson Co.

$315,000
$815,000

1,306,000
2,990,000

Current

Common