A company with 106,000 authorized shares of s8 par common stock issued 50,000 shares at $16. Subsequently, the company declared a 2% stock dividend on a date when the market price wes $21 per share. Whet is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend? On. 121,000 Ob. 4S20 Oc. ,000 Od. $13,000
Q: On July 1, Jones Corporation had the following capital structure: Common Stock, par $1; 8,000,000…
A: Solution: Case 1 Case 2 Before stock transactions After 100% stock dividend After Stock…
Q: A company with 100,000 authorized shares of $4 par common stock issued 40,000 shares at $8.…
A: The stock dividend is a method of capitalizing on retained earnings. stock dividend is issued to the…
Q: Hi Tech manufacturing company has 500,000 shares of $1 per value capital stock outstanding on…
A: Dividends means the portion of Earnings per share (EPS), distributed to common stockholders in form…
Q: A company with 88,000 authorized shares of $8 par common stock issued 30,000 shares at $12.…
A: Retained earnings are the earning which is not distributed among shareholders in the form of…
Q: A company with 100,000 authorized shares of $4 par common stock issued 40,000 shares at $8.…
A: Stock dividend is dividend payment made to shareholders by company in the mode of shares rather than…
Q: Universal Cable Corporation has 1,000,000 shares of $1 par value capital stock outstanding on…
A: 1. Prepare journal entries to record the above transactions.
Q: HiTech Manufacturing Company has 1,000,000 shares of $1 par value capital stock outstanding…
A: Apr. 30th Common share capital Dr. $1000000 Common shares capital Cr. $1000000 ( being 2…
Q: On January 1, Sunland Company had 135000 shares of $10 par value common stock outstanding. On March…
A: Common stock: These are the shares issued by a company to an outsider. These shares entitle a share…
Q: The net income of F.F. Inc., amounted to $1,920.000 for the current year. a. Compute the amount of…
A: Note: Given net income is “$1,920.000” but it is considered as “$1,920,000”. The reason is, if the…
Q: A company with 90,695 authorized shares of $8 par common stock issued 32,813 shares at $14 per…
A: A small stock dividend is when a company issue less than 25% of outstanding shares as a stock…
Q: A company has 180,000 shares of common stock authorized with a par of $1 per share, of which 30,000…
A: Stock dividend is the dividend declared and distributed among the shareholders but in form of stock.…
Q: On January 1, Oriole Corporation had 83000 shares of $10 par value common stock outstanding. On June…
A: The company can raise funds by various methods. Some of them are, by way of issuing common stock,…
Q: A company with 94,000 authorized shares of $7 par common stock issued 36,000 shares at $16.…
A: Given that: Issued common shares = 36,000 shares Market price per share = $32 per share
Q: A company with 100,000 authorized shares of $4 par common stock issued 50,000 shares at $9.…
A: Stock dividend means issue of shares instead of giving cash dividend. It also called as…
Q: On January 1, Sheffield Corp. had 56,600 shares of no-par common stock issued and outstanding. The…
A: Dividend is payable on No. of outstanding shares.
Q: At the beginning of the current year, Ace Company declared 10% stock dividend. The market price of…
A: Share premium value is the excess amount over the par value to be paid or received for the shares…
Q: 2 On January 1, Graves Corporation had 60,000 shares of no-par common stock issued and outstanding.…
A: The journal entries are prepared to keep the record of day to day transactions of the business on…
Q: The Shareholders’ Equity section of ACCA Company on December 31 shows the following: Ordinary Share…
A: ''Since you have posted a question with multiple parts, we will solve the first three sub-parts for…
Q: Upperchurch Company reports the following components of stockholders' equity on January 1. Common…
A: UPPERCHURCH CORPORATION Stockholders' Equity Section of the Balance Sheet December'31 Common…
Q: The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are…
A: Statement of Stockholders Equity:
Q: A company with 80,474 authorized shares of $8 par common stock issued 30,606 shares at $12 per…
A: Formulas: Stock dividend = Number of shares issued * Par value * Stock dividend rate
Q: The following account balances appear on the balance sheet of Osgood Industries: Common Stock…
A: The company raises the finance from various sources, one of them is common stock. The investor who…
Q: On January 1, Concord Corporation had 172000 shares of $10 par value common stock outstanding. On…
A: The process of recording business transactions in the books of accounts for the first time is…
Q: Hi-C Company has $1,000,000 shares of 10%, $20 Par Value Preferred Stock outstanding. On December…
A: The Company has $1,000,000 shares of 10%, $ 20 Par Value Preferred Stock outstanding. On December…
Q: On January 1, Swifty Corporation had 71000 shares of $10 par value common stock outstanding. On June…
A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…
Q: On January 1, Pina Colada Corp. had 94,000 shares of no-par common stock issued and outstanding. The…
A: Common Shares issued and outstanding at the time declaring Dividend on April 1 94000 shares +…
Q: A company with 95,000 authorized shares of $7 par common stock issued 42,000 shares at $16.…
A: Dividends are calculated on Issued Shares fully paid up.In the given problem, Issued and fully paid…
Q: Emma Systems, Inc. declared and issued a 9 percent stock dividend. The company has 720,000 shares…
A: Solution: Amount of stock dividend = Outstanding shares * 9%* Market value per shar = 45668*9%*$6 =…
Q: A company with 118,808 authorized shares of $5 par common stock issued 31,951 shares at $16 per…
A: Authorized Shares = 118808 Shares Face Value = $5
Q: Please help
A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…
Q: At the beginning of the current year, Ace Company declared 10% stock dividend. The market price of…
A: The capital of the company can be raised by issuing the shares, bonds, debentures, etc., These are…
Q: Nowell Inc. had the following stock issued and outstanding at January 1, Year 2. 1. 150,000 shares…
A: The dividend paid to the preference holders is the product of the par value of preference capital,…
Q: 25.On January 1, 2004, Part Corporation had issued and outstanding 10,000 shares of P10 par common…
A: The retained earnings are the earnings sustained for distribution to the shareholders.
Q: ar value, authorized 1,043,000 shares, 321,000 shares issued and outstanding $3,210,000 Paid-in…
A: A journal entry is a record of a commercial transaction in an organization's accounting system. When…
Q: On January 1, Molini Corporation had 95,000 shares of no-par common stock issued and outstanding.…
A: Definition: Dividends: This is the amount of cash distributed to stockholders by a company out its…
Q: Atkins Company has 20,000 shares of $5 par value common stock outstanding prior to declaring a 10%…
A: Solution: Amount of stock dividend = outstanding shares *10%* market price = 20000*10%*$11 =…
Q: Mt. Everst Company has $1,000,000 shares of 10%, $20 Par Value Preferred Stock outstanding. On…
A: 4% Stock Dividend is recorded using the market price of the stock as of the date of stock dividends…
Q: A company with 100,000 authorized shares of $6 par common stock issued 35,000 shares at $12.…
A: Stock dividends are payable in additional shares of the declaring corporation’s capital stock.…
Q: On October 1, Kosko Corporation’s stockholders’ equity is as follows. Common stock, $5 par value…
A: The stock dividend is a method of capitalizing retained earnings. Under the stock dividend, no…
Q: At December 31, the stockholders’ equity section shows: Ordinary share capital, P5 par value;…
A: Book Value Per Share:- It is the ratio of a firm's common equity divided by its number of shares…
Q: HM company has 1,000,000 shares of $1 par value capital stock outstanding on January 1. The…
A: (1) Journal entries for the given transactions are as follows:
Q: A company with 100,000 authorized shares of $4 par common stock issued 40,000 shares at $8.…
A: No. of shares issued under stock dividend = No. of common stock issued x 4% = 40000 shares x 4% =…
Q: Please I want answer for this question of multiple choice. Big thanks
A: Dividends: This is the amount of cash distributed to stockholders by a company out its earnings,…
Q: El Cemí Enterprises Stockholders equity section presents the following balances for January 1st:…
A:
Q: A company declared and distributed an 8% dividend on 800,000 shares of $5 par value common stock…
A: The dividend is declared to shareholders from the retained earning of the business.
Q: Luke Enterprises has 300,000 shares of $20 par common stock outstanding. On January 19, Luke…
A: Working note 1: Determine the amount of stock dividend to be paid. Particulars Number…
Q: Texas Inc. has 8,000 shares of 6%, $125 par value cumulative preferred stock and 97,000 shares of $1…
A: Cumulative Preferred Stock :— It is a type of preferred stock in which any arrear of previous…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Given the following year-end information, compute Greenwood Corporations basic and diluted earnings per share. Net income, 15,000 The income tax rate, 30% 4,000 shares of common stock were outstanding the entire year. shares of 10%, 50 par (and issuance price) convertible preferred stock were outstanding the entire year. Dividends of 2,500 were declared on this stock during the year. Each share of preferred stock is convertible into 5 shares of common stock.Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--, the beginning of its fiscal year, are shown below. (a)Received 20,000 for the balance due on subscriptions for preferred stock with a par value of 40,000 and issued the stock. (b)Purchased 10,000 shares of common treasury stock for 18 per share. (c)Received subscriptions for 10,000 shares of common stock at 19 per share, collecting down payments of 45,000. (d)Issued 15,000 shares of common stock in exchange for land with a fair market value of 290,000. (e)Sold 5,000 shares of common treasury stock for Si00,000. (f)Issued 10,000 shares of preferred stock at 11.50 per share, receiving cash. (g)Sold 3,000 shares of common treasury stock for 17 per share. REQUIRED 1. Prepare general journal entries for the transactions, identifying each transaction by letter. 2. Post the journal entries to appropriate T accounts. The cash account has a beginning balance of 300,000. 3. Prepare the stockholders equity section of the balance sheet as of December 31, 20--. Net income for the year was 825,000 and dividends of 400,000 were paid.A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional paid-in capital would be ________. A. $11,985 B. $12,000 C. $15 D. $10,150
- Chen Corporation began 2012 with the following stockholders equity balances: The following selected transactions and events occurred during the year: a. Issued 10,000 shares of common stock for 60,000. b. Purchased 1,200 shares of treasury stock for 4,800. c. Sold 2,000 shares of treasury stock for 11,000. d. Generated net income of 94,000. e. Declared and paid the full years dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year. Chen Corporation maintains several paid-in capital accounts (Paid-in Capital in Excess of Par, Paid-in Capital from Treasury Stock, etc.) in its ledger, but combines them all as Additional paid-in capital when preparing financial statements. Open the file STOCKEQ from the website for this book at cengagebrain.com. Enter the formulas in the appropriate cells on the worksheet. Then fill in the columns to show the effect of each of the selected transactions and events listed earlier. Enter your name in cell A1. Save the completed worksheet as STOCKEQ2. Print the worksheet. Also print your formulas. Check figure: Total stockholders equity balance at 12/31/12 (cell G21). 398,800.Chen Corporation began 2012 with the following stockholders equity balances: The following selected transactions and events occurred during the year: a. Issued 10,000 shares of common stock for 60,000. b. Purchased 1,200 shares of treasury stock for 4,800. c. Sold 2,000 shares of treasury stock for 11,000. d. Generated net income of 94,000. e. Declared and paid the full years dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year. Chen Corporation maintains several paid-in capital accounts (Paid-in Capital in Excess of Par, Paid-in Capital from Treasury Stock, etc.) in its ledger, but combines them all as Additional paid-in capital when preparing financial statements. In the space provided below, prepare the stockholders equity section of Chen Corporations balance sheet as of December 31, 2012. Use proper headings and provide full disclosure of all appropriate information. Chens corporate charter authorizes the issuance of 1,000 shares of preferred stock and 100,000 shares of common stock.On April 2, West Company declared a cash dividend of $0.50 per share. There are 50,000 shares outstanding. What is the journal entry that should be recorded?
- Chen Corporation began 2012 with the following stockholders equity balances: The following selected transactions and events occurred during the year: a. Issued 10,000 shares of common stock for 60,000. b. Purchased 1,200 shares of treasury stock for 4,800. c. Sold 2,000 shares of treasury stock for 11,000. d. Generated net income of 94,000. e. Declared and paid the full years dividend on preferred stock and a dividend of 1.00 per share on common stock outstanding at the end of the year. Chen Corporation maintains several paid-in capital accounts (Paid-in Capital in Excess of Par, Paid-in Capital from Treasury Stock, etc.) in its ledger, but combines them all as Additional paid-in capital when preparing financial statements.The following selected transactions and events occurred during 2013: a. Issued 200 shares of preferred stock for 20,000. b. Sold 800 shares of treasury stock for 2,800. c. Declared and issued a 4% common stock dividend. The market value on the date of declaration was 5 per share. d. Generated a net loss for the year of 16,000. e. Declared and paid the full years dividend on all the preferred stock and a dividend of 15 per share on common stock outstanding at the end of the year. Enter beginning balances for 2013 on STOCKEQ2. Then erase all 2012 entries and enter the transactions for 2013. Save the results as STOCKEQ4. Print the results.Nutritious Pet Food Companys board of directors declares a large stock dividend (50%) on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend?
- Nutritious Pet Food Companys board of directors declares a cash dividend of $5,000 on June 30. At that time, there are 3,000 shares of $5 par value 5% preferred stock outstanding and 7,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend?Nutritious Pet Food Companys board of directors declares a large stock dividend (50%) on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the stock dividend distribution on July 31?Outstanding Stock Lars Corporation shows the following information in the stockholders equity section of its balance sheet: The par value of common stock is S5, and the total balance in the Common Stock account is $225,000. There are 13,000 shares of treasury stock. Required: What is the number of shares outstanding? Use the following information for Exercises 10-58 and 10-59: Stahl Company was incorporated as a new business on January 1, 2019. The company is authorized to issue 600,000 shares of $2 par value common stock and 80,000 shares of 6%, S20 par value, cumulative preferred stock. On January 1, 2019, the company issued 75,000 shares of common stock for $15 per share and 5,000 shares of preferred stock for $25 per share. Net income for the year ended December 31, 2019, was $500,000.