On January 1, Molini Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a par value of $5 per share. During the year, the following occurred. Jan. 5 Issued 25,000 additional shares of common stock for $17 per share. April 15 Declared a cash dividend of $1 per share to stockholders of record on April 30. May 10 Paid the $1 cash dividend. July 15 Declared a 10% stock dividend on 120,000 (95,000 + 25,000) shares to stockholders of record on July 30. The per share par value is $5, book value $15 and market value is $100 per share at the time. August 10 Issued the stocks dividends. Dec. 1 Issued 2,000 additional shares of common stock for $19 per share. Dec. 15 Declared a cash dividend on outstanding shares of $1.20 per share to stockholders of record on December 31. (Notice that number of outstanding shares have changed due to August 10 and December 1 transactions, so, you must take the updated data into account) Instructions: Prepare the dividend entries only, if any, on each of the three dividend dates.

Q: On January 1, 2020, Blossom Corporation had 106,000 shares of no-par common stock issued. 5,000…

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

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

Q: Grouper Corporation began operations on April 1 by issuing 54,000 shares of $5 par value common…

A: Common stock alludes to stock in a corporation held by people having the right to participate in the…

Q: On January 1, 20X1, Browning Corporation had 75,000 shares of $1 par value common stock issued and…

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Q: Carl Corporation has the following beginning balances in its stockholders' equity accounts on…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: On January 1, Crane Corporation had 94,500 shares of no-par common stock issued and outstanding. The…

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Q: On January 1, Tesla had 40,000 shares of $10 par value common stock issued and outstanding. All…

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

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Q: On January 1, Oriole Corporation had 83000 shares of $10 par value common stock outstanding. On June…

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Q: On June 1, Sheffield Inc. issues 3,350 shares of no-par common stock at a cash price of $7 per…

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Q: Rowlands Corporation has 100,000 shares of $40 par value preferred stock authorized. During the…

A: Preferred stock: These are the shares which has a preference over common stock holders in the…

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.

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Q: On January 1, Sweeney Corporation had 40,000 shares of $10 par value common stock issued and…

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A: It is assumed that the requirement for this question is the preparation of the journal entries.

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A: a.

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Q: On January 1, Lorain Corporation had 2,000 shares of $5 par common stock authorized and outstanding.…

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Q: On January 1, Vermont Corporation had 46,700 shares of $10 par value common stock issued and…

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Q: On January 1, the company had 150,000 common shares outstanding. During the year, the following…

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

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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.