Larkspur, Inc. has 6,700 shares of common stock outstanding. It declares a $2 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Choose a transaction date                                                            Enter an account title Enter a debit amount Enter a credit amount   Enter an account title Enter a debit amount Enter a credit amount Choose a transaction date                                                            Enter an account title Enter a debit amount Enter a credit amount

Q: Pronghorn Corp has 8,300 shares of common stock outstanding. It declares a $3 per share cash…

A: Cash dividend for the journal entries will be $24,900 (8300 shares * $3)

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Q: The declaration, record, and payment dates in connection with a cash dividend of $41,200 on a…

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Q: On November 27, the board of directors of Marin Company declared a $0.40 per share dividend. The…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: During its first year of operations, Larkspur, Inc. had the following transactions pertaining to its…

A: Journal entry is the process of recording the business transactions in the books of accounts for the…

Q: Blossom Company had these transactions during the current period. June 12   Issued 83,500 shares…

A: Date Account Titles and Explanations Debit Credit June 12 Cash  $313,125…

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A: On june ,all majority of BOD approves dividend, so dividend is payable.

Q: Novak Corp. is authorized to issue both preferred and common stock. The par value of the preferred…

A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: he declaration, record, and payment dates in connection with a cash dividend of $34,000 on a…

A: Journal entries are the entries to be recorded in the accounting books of the business for all the…

Q: On July 1, Sage Hill Inc. purchases 600 shares of its $5 par value common stock for the treasury at…

A: Total cash paid = No. of shares purchases x Price per share = 600*$8 = $4,800

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

Q: On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 320,000 shares of $5 par…

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

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

A: Date  Account titles and explanation  Debit in $  Credit in $  May, 20  Dividend's…

Q: The declaration, record, and payment dates in connection with a cash dividend of $135,000 on a…

A: Debit what comes in, Credit what goes out. Debit the receiver, Credit the giver. Debit all expenses…

Q: On March 15, American Eagle declares a quarterly cash dividend of $0.075 per share payable on April…

A: The dividend is declared from the retained earnings of the business.

Q: On June 1, Pronghorn Inc. issues 3,200 shares of no-par common stock at a cash price of $8 per…

A: Being to record issue of common stock

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A: journal entry of above transaction are as follows

Q: On May 10, Martinez Corp. issues 1,800 shares of $4 par value common stock for cash at $15 per…

A: The details regarding transaction is given. Required  Journal Entry.

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A: Cash dividend refers to the amount of money  or funds distributed by the corporation to its…

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

A: Dividends declared = Number of shares Outstanding ×Cash dividend per share  = 74000×$2 =$148,000

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A: Preferred stock:The stock that provides a fixed amount of return (dividend) to its stockholder…

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Q: The declaration, record, and payment dates in connection with a cash dividend of $195,000 on a…

A: In case of declaration of dividend  No entry is required

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

Q: Larkspur, Inc. has 6,700 shares of common stock outstanding. It declares a $2 per share cash…

A: First, compute the cash dividends as shown below: Cash dividends = 6,700*$2 Cash dividends = $13,400…

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A: Total amount of dividend declared = No. of shares x dividend per share =3800*$0.25 = $950

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Q: Desert Apparel has 6,000 shares of common stock outstanding. On April 1, the company declares a $2…

A: Given, Number of stocks outstanding = 6,000 Dividend declared = $2

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

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A: Dividends are the distribution of earnings by a company to its stakeholders. It is always paid based…

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

A: Dividends: Dividends means the distribution of the amount from the profit earned by the…

Q: Please help

A: Cash = Number of shares * Issue price = 2100 * $14 = $29,400 Common stock value = Number of shares *…

Q: Please help

A: Cash Dividends are the amount paid to the shareholders, from the earnings of the company. Basically,…

Q: On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 100,000 shares of $5 par…

A: Workings: Issued 100000 shares @ 9 each = 100000 x 9 = 900000 Par value of each is 5 = 100000 x 5 =…

Q: Sunland Company had these transactions during the current period. June 12   Issued 83,500 shares…

A: The issuance of common stock will increase the cash balance and the common stock along with the…

Q: On June 1, Noonan Inc. issues 4,000 shares of no-par common stock at a cash price of $6 per…

A: Given: No. of shares issued = 4000 Stated value per share = $1 Issue price per share $6 Amount of…

Q: The declaration, record, and payment dates in connection with a cash dividend of $108,000 on a…

A: Please find the answer to the above question below:

Q: On May 10, Ayayai Corp. issues 1,000 shares of $4 par value common stock for cash at $11 per share.…

A: Cash will be = 1000*11 = 11,000 Capital = 1000*4 =4000 Excess of capital = 11,000 - 4000=7000

Q: Bonita Corporation has 86,000 shares of common stock outstanding. It declares a S2 per share cash…

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

Q: The declaration, record, and payment dates in connection with a cash dividend of $79,600 on a…

A: For record date there would be no journal entry recorded as no transaction has actually taken place.…

Q: On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 73,000 shares of $10 par…

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

Q: On May 1, Carla Vista Corporation purchased 2,800 shares of its $10 par value common stock at a cash…

A: A systematic way to record all the business transactions is referred to as a journal entry, this…

Q: On May 10, Skysong, Inc. issues 2,200 shares of $5 par value common stock for cash at $15 per share.…

A: We need to debit cash since it is an asset and credit common stock to extent of par value($5) and…

Q: The declaration, record, and payment dates in connection with a cash dividend of $76,000 on a…

A: Date Accounts title and explanation Debit ($) Credit ($) 1-Feb Retained earnings $76,000…

Q: Bonita Corporation has 86,000 shares of common stock outstanding. It declares a $2 per share cash…

A: Journal entries are basic accounting input entries to record business transactions. The preparation…

Q: The Vermillion Corporation has 116,60O $2.0 noncumulative preferred shares that have been issued. It…

A: Annual preferred dividend =  Number of preferred shares x Preferred dividend per share Quarterly…

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.