A company with 88,000 authorized shares of $8 par common stock issued 30,000 shares at $12. Subsequently, the company declared a 2% stock dividend on a date when the market price was $21 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend?
Q: A company had stock outstanding as follows during each of its first three years of operations: 1,000…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: A company had 15,000 shares outstanding at the beginning of the year. During the year, the company…
A: Value of stock dividend = No. of shares outstanding x stock dividend rate x market price per stock…
Q: 4) ABC Co. had 800,000 shares of common stock outstanding on January 1, issued 120,000 shares on…
A: This is used in calculating EPS. In this no. of shares is computed after adjusting of modifications…
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: ow many share would be outstanding after a 2:1 stock split
A: A stock split is when a company divides the existing shares of its stock into multiple new shares.…
Q: Oregon, Inc. reported net income of $105,000. During the current year, the company had 5,000 shares…
A: Calculate the preferred dividend as follows: Preferred dividend= Face value * Preference dividend…
Q: Junkyard Arts, Inc., had earnings of $172,300 for the year. The company had 23,000 shares of common…
A: Earnings per share refer to the amount earned by each stockholder. This can be identified by…
Q: A company has 360,000 shares authorized, 200,000 shares issued, and 100,000 shares outstanding. The…
A: Introduction: Authorized shares: Every company is allowed to issue certain number of shares. Simply…
Q: Netpass Company has 300,000 shares of common stock authorized, 270,000 shares issued, and100,000…
A: Outstanding shares = Issued shares - Treasury shares = 270,000…
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: DY Corporation declared the regular quarterly dividend of P2 per share. It had issued12,000 shares…
A: Shares outstanding = Shares issued - Treasury stock shares Shares outstanding = 12,000 - 2,000…
Q: A company had stock outstanding as follows during each of its first three years of operations: 1,000…
A: working note PREFERED DIVIDEND = 1,000 *100*9%=$9000
Q: This company reported the following information on its recent balance sheet: Common stock, $10 par,…
A: The accounting equation refers to the equation of the balance sheet. It is based on the method of…
Q: PickApart Arts, Inc., had earnings of $565,300 for the year. The company had 55,000 shares of common…
A: Preferred dividend = No. Od preferred stock x dividend per share = 23000 shares x $2.10 per share =…
Q: Goggle Corporation issued 5,000 stocks of its $1 par value common stocks as a stock dividend when…
A: Stock dividend is a method of capitalizing the retained earning. Under this, no profit is…
Q: Clair, Inc reports net income of $700,000. It declares and pays dividends of $100,000 for the year,…
A: Given that, Net income = $700000 Preference dividend = $50000 Common stock dividend = $50000 The…
Q: Eastline Corporation had 11,000 shares of $10 par value common stock outstanding when the board of…
A: Large stock dividend, A stock dividend is considered to be large if the new shares being issued are…
Q: the question is in the picture attached. please answer asap! thank you
A: Treasury stock:The shares which were reacquired or bought back by the company, but not formally…
Q: Huxley Company has 119,526 shares of common stock authorized, 158,963 issued, and 79,891 shares of…
A: No. of shares issued and outstanding = No. of shares issued - No. of treasury stock = 158963-79891 =…
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: Explain how to calculate the after stock dividend to enter on the balance sheet for the below. At…
A: Determine the effect of stock dividend.
Q: A company had stock outstanding as follows during each of its first three years of operations: 2,000…
A: Preference Stock: These are the shares that earn a fixed rate of dividend on the number of shares…
Q: The company with the common equity accounts shown here has declared a 12 percent stock dividend at a…
A: Common stock = 400,000 12% stock dividend so common shares will increase by 12%*400,000 = 48,000…
Q: On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding.…
A: Journal entry: A journal entry is used to record day-to-day transactions of the business by debiting…
Q: A company had stock outstanding as follows during each of its first three years of operations: 4,000…
A: Solution: Computation of dividend per share to Preferred and common shareholders Year Total…
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: 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: Gordon Corporation reported the following equity section on its current balance sheet. The common…
A: A Stock Dividend is the payment of dividends in the forms of shares of the company. There are 2…
Q: Global Corporation had 60,000 shares of $20 par value common stock outstanding on July 1. Later that…
A: Stock dividends are dividends paid to the shareholders in the form of shares i.e. instead of cash…
Q: A company declared cash dividends of $0.20 per share. If there are 500,000 shares of common stock…
A: Dividend is the return that the company provides to the stockholders as a consideration for…
Q: On January 1, the company had 150,000 common shares outstanding. During the year, the following…
A: On January 1, the company had 150,000 common shares outstanding. During the year, the following…
Q: During the year, 10 shares were reacquired at $11 per share. How much is the total stockholders'…
A: Treasury Stock - These Stocks are those which are repurchased by the company from the stockholders…
Q: Ramos Corporation reported the following equity section on its current balance sheet. The common…
A: Stock dividend is the form of dividend distribution in which additional stock are issued by the…
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: At the end of the accounting period, Houston Company had $8,000 of par value common stock issued,…
A: Stockholders equity include common stock, retained earning but does not include treasury stock.
Q: On January 1, Year 1, a company had the following transactions: Issued 10,000 shares of $2 par…
A: Stock Dividends: It refers to the payment of dividends by a company to its existing shareholders, in…
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: At the start of the fiscal year, Comfortable Company has 100,000 shares of its ₱10 par value common…
A: Solution: Common stock at the end of year= 120000*10 = 1,200,000 Additional paid in capital =…
Q: Gordon Corporation reported the following equity section on its current balance sheet. The common…
A: If dividend is issued in form of stock instead of cash then such dividend is called as Stock…
Q: PickApart Arts, Inc., had earnings of $398,000 for the year. The company had 44,000 shares of common…
A: It is the income which is available to the common shareholders per share after giving preferred…
Q: The annual report for Sneer Corporation disclosed that the company declared and paid preferred…
A: Dividend is the amount of return paid to the shareholders in the form of return. The dividend…
Q: Junkyard Arts, Inc., had earnings of $446,400 for the year. The company had 54,000 shares of common…
A: Junkyard earnings = $ 446400 Common stock outstanding = 54000 shares Number of preferred stock =…
Q: The following data has been collected about Keller Company's stockholders' equity accounts: Common…
A: Authorized Shares = 13000 shares Issued Shares = 6500 shares Outstanding Shares = 2700 shares…
Q: Company E reports the following stockholders' equity: Common Stock, 100,000 authorized, 30,000…
A: Retained Earnings: Retained earnings is the amount retained by the company after their net…
A company with 88,000 authorized shares of $8 par common stock issued 30,000 shares at $12. Subsequently, the company declared a 2% stock dividend on a date when the market price was $21 per share. What is the amount transferred from the
Step by step
Solved in 2 steps with 1 images
- Jupiter Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is Jupiter Corporations weighted average number of shares for the year?Brunleigh Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is Brunleigh Corporations weighted average number of shares for the year?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.
- 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.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.
- 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.Longmont Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is the numerator of the EPS calculation for Longmont?Nutritious Pet Food Companys board of directors declares a cash dividend of $1.00 per common share on November 12. On this date, the company has issued 12,000 shares but 2,000 shares are held as treasury shares. What is the journal entry to record the declaration of this dividend?
- Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 20 par common stock at 30, receiving cash. b. Issued 4, 000 shares of 80 par preferred 5% stock at 100, receiving cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. The investment is classified as an available-for-sale investment. g. Purchased 8,000 shares of treasury common stock at 33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. i. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. j. Paid the cash dividends to the preferred stockholders. k. Received 27,500 dividend from Pinkberry Co. investment in (h). l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 37 5. The bonds are classified as a held-to-maturity long -term investment. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). o. Sold 1,000 shares of Solstice Corp. at 45, including commission. p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method . q. Accrued interest for three months on the Dream Inc. bonds purchased in (I). r. Pinkberry Co. recorded total earnings of 240 ,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. s. The fair value for Solstice Corp. stock was 39. 02 per share on December 31, 2016. The investment is adjusted to fair value , using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. Instructions 1. Journalize the selected transactions. 2. After all of the transaction s for the year ended December 31, 201 6, had been poste d [including the transactions recorded in part (1) and all adjusting entries), the data that follows were taken from the records of Equinox Products Inc. a. Prepare a multiple-step in come statement for the year ended December 31, 201 6, concluding with earnings per share . In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. ( Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 20 6. c. Prepare a balance sheet in report form as of December 31, 2016.Bastion Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the EPS for the year for Bastion?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?
