Belkin Inc. has 100,000 shares of $3 par value common stock outstanding. Belkin declares a 40% stock dividend on March 2 when the stock’s market value is $72 per share. Prepare the journal entry for declaration of the stock dividend.

Q: Texas Inc. has 10,000 shares of 6%, $125 par value cumulative preferred stock and 50,000 shares of…

A: Dividend distribution is a method of distributing profit among the stockholder of the organization.…

Q: Instructions: prepare the journal entries on above transactions.

A: Calculation of Dividend Paid :- Shares outstanding at the beginning 60000 Add : New issue…

Q: Bramble Corp. has 55,000 shares of $13 par value common stock outstanding. It declares a 13% stock…

A: No. of shares issued under stock dividend = Number of outstanding shares x 13% = 55,000 shares x 13%…

Q: Tidwell Corporation has 50,000 shares of $10 par value common stock outstanding. It declares a 10%…

A: Stock dividend is the dividend that is paid in the form of stock rather cash. In this case,…

Q: At the beginning of the current year, Hardin Company had 20,000 shares of $10 par common stock…

A: Weighted average shares outstanding is a number of shares of the company after incorporating…

Q: On March 1, the company issued 50,000 preferred shares with a 5% cumulative dividend for $10 per…

A: Preference shares are those who are given preference over the equity holders while at the payment of…

Q: On June 30, the board of directors of Sandals, Inc., declares a 100% stock dividend on its 30,000,…

A: Number of shares issued as stock dividend = 30,000 x 100% = 30,000 shares

Q: On June 30, Sharper Corporation’s stockholders’ equity section of its balance sheet appears as…

A: Share outstanding after the stock dividend is 75,000 shares.

Q: On January 1, Riverbed Corp had 62,300 shares of no-par common stock issued and outstanding. The…

A: Journal is a place where accounting transactions are listed in the book keeping system before ledger…

Q: On March 15, American Eagle declares a quarterly cash dividend of $0.125 per share payable on April…

A:

Q: Read & Learn Company has $1,000,000 shares of 10%, $20 Par Value Preferred Stock outstanding. On…

A: Number of Preferred Stock outstanding on 15th December = 1,000,000 shares Therefore, Number of…

Q: On January 1. 2021, Hum Enterprises Inc. had 74,000 common shares, recorded at $592,000. The company…

A: A dividend is the distribution of some of the corporate profits to a class of its shareholders.…

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: Sheridan Company has 48,000 shares of $10 par value common stock outstanding. It declares a 10%…

A: Stock dividend is a method of capitalizing the retained earning. Under this, no profit is…

Q: Langley Corporation has 50,000 shares of $10 par value common stock outstanding. It declares a 15%…

A: Stock dividend is a method of capitalizing the retained earning. Under this, no profit is…

Q: On april 12, hobson corporation declared a quarterlu dividend of 0.05 per share on its 200,000…

A: Common stock: These are the shares issued by a company to an outsider. These shares entitle a share…

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: On January 1, Larkspur, Inc. had 93,000 shares of no-par common stock issued and outstanding. The…

A: Journal entry: This is the first step to record accounts. It is written in the same order in which…

Q: A company had stock outstanding as follows during each of its first three years of operations: 2,500…

A: 1. Annual Preferred dividend  = No. of shares*face value per share*dividend % = 2,500*$100*10% =…

Q: Antique Buggy Corporation has 820,000 shares of $35 par common stock outstanding. On June 8, Antique…

A: Stock Dividends: It refers to the payment of dividends by a company to its existing shareholders, in…

Q: On May 20, the board of directors for Auction.com declared a cash dividend of 50 cents per…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: Ammon Company is authorized to issue 500,000 shares of $5 par value preferred stock. In its first…

A: A Journal is made to record all the business transactions in chronological order. It is the first…

Q: Texas Inc. has 6,150 shares of 5%, $100 par value cumulative preferred stock and 99,712 shares of $1…

A: Dividend on Preferred stock= Preferred Share*Par value*5%

Q: Epic Inc. has 10,000 shares of $2 par value common stock outstanding, Epic declares a 5% stock…

A: Dividends: This is the amount of cash distributed to stockholders by a company out its earnings,…

Q: On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend on its 60 million,…

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: On January 1, Pharoah Company had 64,500 shares of no-par common stock issued and outstanding. The…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Sherry, Inc. had 140,000 shares of $5 par value common stock issued and outstanding as of December…

A: No. of shares issued under stock dividend = Number of outstanding shares x 40% = 140,000 shares x…

Q: At the beginning of the year, a company has issued a total of 500,000 shares of common stock,…

A: Introduction: Retained earnings: Retained earnings refer to the income residing in the business…

Q: Weaver Corporation had the following stock issued and outstanding at January 1, 2018:   94,000…

A: Dividends: This is the amount of cash distributed to stockholders by a company out its earnings,…

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: Divine Apparel has 4,000 shares of common stock outstanding. On October 1, the company declares a…

A: Amount of dividend = No. of shares x dividend per share = 4,000 shares x $0.75 per share = $3,000

Q: Windsor, Inc. has 46,000 shares of $10 par value common stock outstanding. It declares a 13% stock…

A: Number of shares issued as stock dividend = 46,000 shares x 13% = 5,980 shares

Q: Monty Inc. has 5,400,000 shares of common stock issued and outstanding. On April 1, the board of…

A:

Q: Langley Corporation has 57,000 shares of $11 par value common stock outstanding. It declares a 15%…

A: Dividend :- This can be best understood with the help of an illustration. A person with surplus…

Q: In its first year of operations, Martinez Corporation had the following transactions pertaining to…

A: We have the following information: Preferred stock par value: $10 Feb. 1 Issued 8,000 shares for…

Q: On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding.…

A: Dividend can be defined as the profit distribution done by a corporation to its shareholders, who…

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: 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: A company had 110,000 shares of common stock outstanding on January 1st. It then issued 50,000…

A: Earnings per share refer to the amount that shareholders earn on each share purchased by them. It is…

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: Keener Company has had 900 shares of 7%, $100 par preferred stock and 42,000 shares of $5…

A: Dividends are paid to the shareholder in return for investing in the shares of the company.…

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: Provide the following journal entry- On Jan 1. ABC Corp declared a 50 cent dividend to stockholders.…

A: Given that  ABC Corp : 50000 shares outstanding  declared dividend = 50%

Q: Nebraska Inc. issues 2,750 shares of common stock for $88,000. The stock has a stated value of $20…

A: When common stock is issued above par/stated value then the journal entry comprises of debit of cash…

Q: Milo Co. had 795,000 shares of common stock outstanding as of January 1. On May 1, they issued…

A: Firstly, we shall calculate the Shares that were outstanding during the year and the Months for…

Q: Marcy Company had 30,000 shares of common stock at the beginning of the year. On July 1, it issued…

A: Formulas: Weighted average number of shares = Actual shares out standing * Fraction of year…

Q: Blake Distributors had 100,000 common shares outstanding at the beginning of the year, January 1. On…

A: Formula to calculate Earnings per share (EPS): EPS = (Net income - Preferred dividen) / Weighted…

Q: company had stock outstanding as follows during each of its first three years of operations: 2,000…

A: Dividend is the part or share of profits that is being distributed to the shareholders. It can be…

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…