Journalize the entries needed on the declaration and payment dates.

Q: Eidman Corporation has 80,000 shares of common stock outstanding. It declares a $1 per share cash…

A: A dividend is the distribution of some of a company's earnings to a class of its shareholders, as…

Q: On September 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend on…

A:

Q: On October 10, the stockholders' equity section of Sherman Systems appears as follows. Common…

A: Journal entry is a process of recording and classifying business transactions initially into books…

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: Bridgeport Corp. has 7,400 shares of common stock outstanding. It declares a $5 per share cash…

A: Dividend for shareholders No.of shares * cash dividend per share 7400 shares * $5 $37,000

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

A:

Q: Rabbithole. held its quarterly dividend meeting on April 19.  At that time, the directors of…

A: Dividend An incentive given to shareholders by companies is known as a dividend, and its funding…

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: February 16, Hawthorne Co. declares a $0.34 dividend to be paid on April 5. Hawthorne has 2,000,000…

A: Dividend  pay will result in cash outflows

Q: Greenwood Corporation has 80,000 shares of common stock outstanding. It declares a $1 per share cash…

A: Cash dividends are cash distributions of accumulated earnings by a corporation to its stockholders.…

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

A:

Q: On June 1, a board of directors declared a $3 per share cash dividend, payable on June 30 to all…

A: Total amount of dividend = No. of shares issued and outstanding x dividend per sahre = (1000 shares…

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 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: Oriole Corporation has 74,000 shares of common stock outstanding. It declares a $2 per share cash…

A: Introduction: Dividend is the distribution of profits earned by the company, to its stockholders as…

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 April 15 of this year, the board of directors for Jedi Company declared a cash dividend of 55…

A: Dividend amount = No. of shares outstanding x Dividend per share  = 107,000 shares  x 0.55 = 58,850…

Q: On May 15, Canadian Falcon declares a quarterly cash dividend of $0.20 per share payable on June 10…

A: The question is based on the concept of Financial Accounting.

Q: Pro-Builders Corporation has 242,000 shares of $45 par common stock outstanding. On September 2,…

A: Stock dividend means a payment given to the shareholders in shares instead of a cash payment. Stock…

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

A: Share issued Known as issued shares, these are the subset of authorized shares that have been sold…

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: 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: Weaver Corporation had the following stock issued and outstanding at January 1, Year 1:  66,000…

A: Dividends are distributions of earnings by a corporation to its stockholders. Usually the…

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: Woolford Inc. declared a cash dividend of $1.00 per share on its 2 million outstanding shares. The…

A: Definition:   Cash dividends: The amount of cash provided by a corporation out of its distributable…

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: 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: 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: 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: Pro-Builders corporation has 1,500,000 shares par common stock outstanding. On September 2, pro-…

A: Definition: Stock dividends: Stock dividends are the number of shares issued by a company to the…

Q: Oriole Corporation has 74,000 shares of common stock outstanding. It declares a $2 per share cash…

A: The process of recording business transactions in the books of accounts for the first time is…

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: 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 June 13, the board of directors of Siewert Inc. declared a 5% stock dividend on its 40 million,…

A:

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: Sheffield Corp. has 84,000 shares of common stock outstanding. It declares a $1 per share cash…

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

Q: Weaver Corporation had the following stock issued and outstanding at January 1, Year 1:  66,000…

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

Q: Alpha Corporation has 25 million shares of common stock issued and outstanding. On August 31 the…

A: Payment of dividend out of profits indicate that the dividends are distributed out of retained…

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: Bogscraft Company has outstanding 65,500 shares of $10 par value common stock and 26,100 shares of…

A: Journal entries are defined as reporting of transaction into the books of accounts and it is…

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

A: Declaration date is the date when the board of director announce the payment for dividend. Payment…

Q: Pro-Builders Corporation has 242,000 shares of $45 par common stock outstanding. On September 2,…

A: Stock dividend: Stock dividend means a payment given to the shareholders in shares instead of a cash…

Q: When Bunyan Corporation was formed on January 1, the corporate charter provided for 90,000 shares of…

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

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: lefrerson contractor, sued for 73,000 shares of $45 par common stCk at $54, and on February 2 issued…

A: Journal is the accounting format in which monetary transactions are firstly recorded in the…

Q: Journalize the transactions of February14, March 5, and June 2.

A:

Q: The following accounts and their balances appear in the ledger of Goodale Properties Inc. on June 30…

A: Common stock (shares)=$706,500$15=47,100 shares

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.