ble on April 15. Beer has 40,000 shares of stock authorized, 25,000 shares issued, and 18,000 shares outstanding.

Q: On October 10, the board of directors of Pinto Corporation declared a 10% stock dividend. On October…

A: Journal entry shows recording of each and every business transaction. Every transaction have dual…

Q: On July 1, a board of directors declared a $3 per share cash dividend, payable on July 31 to all…

A: Date Accounts Debit Credit July 1 Dividends (1,000-200) * $3 2,400       Dividends Payable…

Q: Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1…

A:

Q: [The following information applies to the questions displayed below.] The charter of Vista West…

A: Authorized share refers to the number of shares that is legally allowed to be issued by a…

Q: Anslo Fabricating, Inc. is authorized to issue 10,000,000 shares of $5 stated value common stock.…

A: Formula: Cash received = Number of shares issued x Issue price per share

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: Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock,…

A: Shares refer to the market security that the company issue to raise funds from the market by…

Q: On November 12th, Nutritious Pet Food Company’s board of directors declares a cash dividend of $1.00…

A: Total Outstanding shares = 12,000 Held as treasury share = 2,000 Cash dividend is given total share…

Q: [The following information applies to the questions displayed below.] The charter of Vista West…

A: The common stockholders are the owner of the organization. They also have the power to vote.

Q: The corporate charter of Metlock, Corporation allows the issuance of a maximum of 100,000 shares of…

A: Authorized shares are the maximum number of shares a company is authorized to issue. Issued shares…

Q: 2. Homework Chapter 10

A: In Stock split offers are given to the present investor's in extent of their current offers. It is…

Q: On September 1, the board of directors of Colorado Outfitters, Incorporated, declares and issues a…

A: Journal entries should not be used to record routine transactions such as customer billings and…

Q: Can you help me to record journal entries for both of these events? On July 6, Nikosha's…

A: The answer is as fallows

Q: Rodriguez Corporation issues 7,000 shares of its common stock for $31,800 cash on February 20.…

A: Lets understand the basics. Stated value or par value is a value which is assign to corporation's…

Q: Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock,…

A: Journal is the book where transactions are originally recorded.  Journal entry: A journal entry is…

Q: The entry to record the above transaction would include a a. debit to Cash for $85,000 b. credit to…

A: Common stock: These are the ordinary shares that a corporation issues to the investors in order to…

Q: Rodriguez Corporation issues 17,000 shares of its common stock for $265,500 cash on February 20.…

A: The company can raise funds by various methods. Some of them are, by way of issuing common stock,…

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: The articles of incorporation allow for the issuance of 1 million shares of common stock. During its…

A: Given is: The articles of incorporation allow for the issuance of 1 million shares of common stock.…

Q: On March 15, the board of directors of Beer, Inc. declared a $0.20 per-share dividend on its common…

A: Date Account Titles and Explanation  Debit   Credit  Mar'15 Dividend  (18,000 shares X $ 0.20 per…

Q: When Wisconsin Corporation was formed on January 1, the corporate charter provided for 100,000…

A: Common stock is a share of ownership issued to the shareholders. It is the most commonly used means…

Q: Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock,…

A: Preferred stock dividend = 8000 shares × $5 = $40,000

Q: When Wisconsin Corporation was formed on January 1, the corporate charter provided for 100,000…

A: Common stock: These are the ordinary shares that a corporation issues to the investors in order to…

Q: On Thursday, May 18, the board of directors of ABC declares a 30-cent-per-share dividend to…

A: On Thursday, May 18, the board of directors of ABC declares a 30-cent-per-share dividend to…

Q: When Wisconsin Corporation was formed on January 1, the corporate charter provided for 94,200 shares…

A: Common stock:   These are the ordinary shares that a corporation issues to the investors in order to…

Q: Use the following information to answer questions 30 and 31. When Calvert Corporation was formed on…

A: Cash received on issue of 8000 shares at $25 = 8000×$25 =$200000

Q: On July 1, a board of directors declared a $3 per share cash dividend, payable on July 31 to all…

A: Dividend declared would be paid on no. of outstanding shares only.

Q: On February 13, Solo Inc. reacquires 50,000 shares of its $1 par value common stock at the current…

A: Financial statements are the recording of business transactions in the various statements which are…

Q: The charter of Vista West Corporation specifies that it is authorized to issue 201,000 shares of…

A: Outstanding shares is the number of shares authorized, issued and held by investors.  The shares…

Q: Paydirt Limestone, Incorporated was organized several years ago and was authorized to issue…

A: Date Accounts title and Explanation Debit ($) Credit ($) 1-Mar Treasury stock (2,000 x $2) $4,000…

Q: At the start of 20X5, Happy Corp. had 20,000 shares of $5 par common stock issued and outstanding.…

A: Treasury stock refers to a method used by the organization to repurchase the issued stock. It is…

Q: The following transactions relate to the shareholders' equity of Telecom Corporation for 2021, its…

A: Authorized capital represents the limit of capital set at the time of incorporation where the…

Q: 1. 2. & 3. Record the necessary journal entries assuming a small (10%) stock dividend, a large…

A: Small stock dividend  A small stock dividend is distribution of 25 percent or less outstanding…

Q: Westby Corp., a high school uniform manufacturer, was authorized to issue an unlimited number of…

A: Equity Section: Stockholders' equity, often known as owner's equity, is the portion of a balance…

Q: On April 1, Blue Devil Inc. has 300,000 shares of $20 par value common stock that are issued and…

A: a. Shares of common stock are issued and outstanding immediately following the stock split: = Common…

Q: Westby Corp., a high school uniform manufacturer, was authorized to issue an unlimited number of…

A: A) Journal Entries    Date  Particular  Debit  Credit  Jan 1,2020 Organization expenses a/c…

Q: On February 14, Marine Company reacquired 7,500 shares of its common stock at $30 per share. On…

A: Treasury stock is the reacquired shares by the company. The company has the right to reissue these…

Q: Spring Company is authorized to issue 500,000 shares of $2 par value common stock. In its first…

A: Journal entry is the primary step to record transactions in the books of accounts. The total of…

Q: When Wisconsin Corporation was formed on January 1, the corporate charter provided for 100,000…

A: Common stock: These are the ordinary shares that a corporation issues to the investors in order to…

Q: When Wisconsin Corporation was formed on January 1, the corporate charter provided for 115,800…

A: Any excess received for issue of shares other than the par value goes to Paid-in Capital in Excess…

Q: Prepare the journal entries to record each of the following transactions under the memorandum entry…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: Sunday, May 29, 2022 BUSINESS ACCOUNTING Journalize the following transaction: Mining corporation is…

A: By issuing common stock, preferred shares, or long-term debt, the organization can fundraise for the…

Q: During its first year of operations, Eastern Data Links Corporation entered into the following…

A: Given information is: During its first year of operations, Eastern Data Links Corporation entered…

Q: When Wisconsin Corporation was formed on January 1, the corporate charter provided for 115,800…

A: Introduction:- The following basic information as follows under:- Wisconsin Corporation was formed…

Q: The charter of Dogwood Corporation authorizes the issuance of 1,000 shares of preferred stock and…

A: Any amount received in excess of par value of a share is known as paid-in capital in Excess of Par.…

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

A: Large stock dividend: A stock dividend is considered to be large if new shares issued as stock…

Q: Nutritious Pet Food Company’s board of directors declares a cash dividend of $1.00 per common share…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.