Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 32,000 shares authorized, 16,200 shares issued, and 12,800 shares of common stock outstanding. The journal entry to record the dividend declaration is
Q: Sweet Company's outstanding stock consists of 1,700 shares of cumulative 5% preferred stock with a…
A: Dividends are the part or share of profits that is being distributed to shareholders. Cumulative…
Q: Andam Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and…
A: Cumulative preference shares are those preference shares whose dividend amount is got accumulated in…
Q: Sweet Company's outstanding stock consists of 1,400 shares of noncumulative 6% preferred stock with…
A: Dividends are the part or share of profits that is being divided or distributed to shareholders of…
Q: The board of directors of KALEIDOSCOPE Corporation has declared cash dividends of P30,000 to its…
A: As posted multiple sub parts we are answering only first three sub parts kindly repost the…
Q: Green Planet Corp. has (a) 5,000 shares of cumulative 10% preferred stock with a $2 par value and…
A: Total dividend to be paid to preferred holders=Number of share×Par value×10%=5,000×$2×10%=$1,000
Q: Halverstein Company's outstanding stock consists of 14,000 shares of cumulative 5% preferred stock…
A: Cumulative preference shareholders are those shareholders on which dividend will be paid in next…
Q: Andam Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and…
A: A total cash dividend of P 900,000 will be distributed among the preference shareholder and common…
Q: Green Planet Corp. has (a) 5,800 shares of noncumulative 12% preferred stock with a $2 par value and…
A: Annual dividend on preferred stock = Number of preferred shares × Par value per preferred share ×…
Q: Sweet Company's outstanding stock consists of 1,700 shares of cumulative 5% preferred stock with a…
A: In case of cumulative Preferred Stock, any amount of dividend will first be paid to preferred stock…
Q: Sweet Company’s outstanding stock consists of 1,000 shares of cumulative 5% preferred stock with a…
A: Dividend on cumulative preference shares is accumulated over the years, It means cumulative…
Q: Enscoe Enterprises, Incorporated (EEl) has 240,000 shares authorized, 210,000 shares issued, and…
A: Shares outstanding=Shares issued-Shares reacquired Book value per share=(Common stock+Retained…
Q: XYZ company's outstanding stock consists 10,000 shares of common stock with a $10 par value and…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: Sweet company's outstanding stock consists of 1100 shares of cumulative 5% preferred stock with a…
A: Dividends are the part or share of profits that is being distributed to the shareholders in the…
Q: Sweet Company’s outstanding stock consists of 1,800 shares of cumulative 5% preferred stock with a…
A: Formula: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value…
Q: Andam Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and…
A: Non cumulative and non participating preference shares:- Non cumulative preference shares means,…
Q: What is the entry for the dividend declaration
A: Dividend declaration: Company distribute a part of their income to its shareholder as the return on…
Q: Sweet Company's outstanding stock consists of 1,200 shares of cumulative 4% preferred stock with a…
A: All amounts are in dollar ($).
Q: Mendez Corporation has 10,000 shares of its $100 par value, 7 percent cumulative preferred stock…
A: Dividend means the amount given to shareholder of the company as profit distribution by company.…
Q: York's outstanding stock consists of 60,000 shares of cumulative 8.0% preferred stock with a $5 par…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: Sheldon, Inc. declared a stock dividend of 50,000 shares on a date when the company's common…
A: Stock dividend is a method of capitalizing the retained earning. Under this, no profit is…
Q: Sweet Company's outstanding stock consists of 1,400 shares of noncumulative 6% preferred stock with…
A: A dividend is a payment given by a company to its shareholders. When a company makes a profit or has…
Q: Andam Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and…
A: Since multiple sub-parts are posted, only the first three sub-parts will be answered. Kindly…
Q: What amount of consolidated goodwill would be recognized from this acquisition?
A: Step 1: Computation of net assets Net Book value of assets = $1780000 Building under valued =$52200…
Q: Green Planet Corp. has (a) 5,800 shares of noncumulative 12% preferred stock with a $2 par value and…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: Green Planet Corp. has (a) 5,000 shares of noncumulative 10% preferred stock with a $2 par value and…
A: Solution: i) Preference Shares are one of the financial instrument, preferred shares are commonly…
Q: The board of directors of KALEIDOSCOPE Corporation has declared cash dividends of ₱30,000 to its…
A:
Q: Jomel Corporation has 10,000 shares of Ordinary share capital authorized, P 30 par of which 6,000…
A: Total amount charged to Retained Earnings account=Shares Outstanding×11×Face Value
Q: The board of directors of Capstone Inc. declared a $0.60 per share cash dividend on its $1 par…
A: Dividend is the disbursement of profit in consideration to the shares purchased by the shareholders.
Q: Belmont, Inc., has outstanding 10,000 shares of $200 par value, 7% nonparticipating, cumulative…
A: Workings:
Q: Saturn Corporation has 19,000 shares of 10%, $76 par noncumulative preferred stock outstanding and…
A: Dividend is defined as the distribution of some of the earnings of the company to the class of its…
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: Sweet Company’s outstanding stock consists of 1,800 shares of cumulative 5% preferred stock with a…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: Andam Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and…
A: Please find the answers to the above questions below:
Q: Kosmier Company has outstanding 500,000 shares of $50 par value common stock that originallysold for…
A: Given information is: Kosmier Company has outstanding 500,000 shares of $50 par value common stock…
Q: Calgate Company had the following shares outstanding and retained earnings at the end of the current…
A: Cumulative Preference Share: When a corporation goes into liquidation, cumulative preference shares…
Q: Sabas Company has issued and outstanding 40,000 shares of $100 par, 1% preferred stock and 100,000…
A: Formula: Dividend per share = Total dividend / Number of outstanding shares
Q: Sabas Company has 20,000 shares of $100 par, 2% cumulative preferred stock and 100,000 shares of $50…
A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…
Q: The balance sheet for Crutcher Corporation reported 260,000 shares outstanding, 360,000 shares…
A: The corporation can issued that much shares which are authorized to the corporation by the Registrar…
Q: Green Planet Corp. has (a) 5,600 shares of cumulative 11% preferred stock with a $2 par value and…
A: Cash dividends: The amount of cash provided by a corporation out of its distributable profits to…
Q: Andam Corporation has outstanding 60,000 shares of 5% preference shares with a P50 par value and…
A: Since multiple sub-parts are posted, only the first three sub-parts will be answered. Kindly…
Q: A. Diaz Corporation, a distributor of exercise equipment, has the following outstanding shares:…
A: The Preference will be given to Preference shareholders at the time of distribution of dividends.…
Q: Tezos Co. reported the following capital structure at the beginning of the current year: Ordinary…
A: Net income means PAT i.e Profit after taxation. Particulars Amount PAT 1,920,000 Less:…
Q: ezos Co. reported the following capital structure at the beginning of the current year= ordinary…
A: EPS is calculated by taking into account the earnings available for equity shareholders. WHERE,…
Q: Green Planet Corp. has 5,000 shares of noncumulative 10% preferred stock with a $2 par value and…
A: Calculate the annual dividend for preferred shareholders. Dividend to Preferred shareholders =…
Q: The board of durectors declared a $2 per share cash dividend on common stock and the corporation had…
A: Definition: Cash dividends: The amount of cash provided by a corporation out of its distributable…
Q: Sweet Company’s outstanding stock consists of 1,700 shares of noncumulative 4% preferred stock with…
A: Formula: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value…
Q: The following information appears in the books of G Corporation: Share Capital (par P200; authorized…
A: Shares entitled to receive dividend are those which are issued and outstanding.
Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 32,000 shares authorized, 16,200 shares issued, and 12,800 shares of common stock outstanding. The
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Silva Company is authorized to issue 5,000,000 shares of $2 par value common stock. In its IPO, the company has the following transaction: Mar. 1, issued 500,000 shares of stock at $15.75 per share for cash to investors. Journalize this transaction.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?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 accounts appear in the ledger of EJ Construction Inc. at the beginning of the current fiscal year: During the year, the corporation completed a number of transactions affecting the stockholders equity. They are summarized as follows: a. Issued 500,000 shares of common stock at 8, receiving cash. b. Issued 10,000 shares of preferred 1% stock at 60. c. Purchased 50,000 shares of treasury common for 7 per share. d. Sold 20,000 shares of treasury common for 9 per share. e. Sold 5,000 shares of treasury common for 6 per share. f. Declared cash dividends of 0.50 per share on preferred stock and 0.08 per share on common stock. g. Paid the cash dividends. Instructions Journalize the entries to record the transactions. Identify each entry by letter.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.
- 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.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?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?
- 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.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. The company pays the dividend on December 14. What is the journal entry to record the payment of the dividend?Prepare general journal entries for the following transactions of GOTE Company: (a) Received subscriptions for 10,000 shares of 2 par common stock for 80,000. (b) Received payment of 30,000 on the stock subscription in transaction (a). (c) Received the balance in full for the stock subscription in transaction (a) and issued the stock. (d) Purchased 1,000 shares of its own 2 par common stock for 7.50 a share. (e) Sold 500 shares of the stock on transaction (d) for 8.50 a share.