Prepare journal entries for each of the following transactions

Q: On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 210,000 shares of…

A: Given: Cash issued for share = $ 210,000 Par value = $ 30 Common stock = $ 34 Cost of preferred…

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: 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: On October 31, Pidgeon Stones Inc., a marble contractor, issued for cash 70,300 shares of $10 par…

A: The firm can raise the amount through different modes some of them are, by issuing common stock, by…

Q: Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 15%…

A: Stock Dividend - Stock Dividend is the dividend issued by the company in the form of shares. This is…

Q: Bramble Corp. has 55,000 shares of $13 par value common stock outstanding. It declares a 13% stock…

A: No. of shares issued under stock dividend = Number of outstanding shares x 13% = 55,000 shares x 13%…

Q: On September 1, 1,500 shares of M Company stock are acquired at a price of $24 per share plus a $40…

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

Q: Divine Apparel has 2,900 shares of common stock outstanding. On October 1, the company declares a…

A: Dividend: Dividend is a part of income paid to shareholders of an organization for the investment…

Q: On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par…

A: On October 31 : Number of Shares = 400,000 Par Value = $ 10 Issue Price = $ 18 Paid in Capital in…

Q: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,…

A: A journal entry is prepared in order to record the financial transactions in the books of…

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: A company has the following transactions during the year related to stockholders' equity. February 1…

A: Journal entry: It is defined as the recording of company's day to day transactions of monetary…

Q: Provide the following journal entry: Jan 1. ABC Corp declared a 50 cent dividend to stockholders.…

A: Dividend is declared on face value of shares. Dividend can be recognise as liability when declared.…

Q: The stockholders’ equity section of Jun Co.’s balance sheet as of April 1 follows. On April 2, Jun…

A: The 10% stock dividend is a small stock dividend and hence it shall be recorded at the market value.

Q: On July 31, a company declared a cash dividend of SR0.25 per common share to the shareholders of…

A: Dividend is described as that amount which is paid by the corporation on the shares outstanding. It…

Q: On January 1st ABC company declared a SRO.50 per share cash dividend on 8,000 shares of common stock…

A: Dividends is calculated by multiplying the number of outstanding shares of common stock and…

Q: Sheridan Company has 48,000 shares of $10 par value common stock outstanding. It declares a 10%…

A: Stock dividend is a method of capitalizing the retained earning. Under this, no profit is…

Q: A company has the following transactions during the year related to stockholders' equity. February 1…

A: The corporation has different options for collecting resources for the business. It includes the…

Q: Langley Corporation has 50,000 shares of $10 par value common stock outstanding. It declares a 15%…

A: Stock dividend is a method of capitalizing the retained earning. Under this, no profit is…

Q: Entries to issue stock                                   Devers Company had the following…

A: Introduction: A journal entry is used to describe a transaction that is recorded in the company's…

Q: Prepare journal entries for each of the following transactions. June 25 Declared a 7% stock…

A: Given 7% stock dividend = 4200 shares No. of shares = 60000 Market value = $14 Par value = $13

Q: A company has the following transactions during the year related to stockholders’ equity.…

A: The company can raise funds using different kinds of methods. It can be by issuing common stock,…

Q: Epic Inc. has 10,000 shares of $2 par value common stock outstanding, Epic declares a 5% stock…

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

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: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,…

A: Definition: Journal: Journal is the method of recording monetary business transactions in…

Q: Woodland Inc. Declared a cash dividend of $1.00 per share on its 2 million outstanding shares. The…

A: Dividend represents the distribution of profit amongs the shareholders of the company. It becomes…

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: Windsor, Inc. has 46,000 shares of $10 par value common stock outstanding. It declares a 13% stock…

A: Number of shares issued as stock dividend = 46,000 shares x 13% = 5,980 shares

Q: Langley Corporation has 57,000 shares of $11 par value common stock outstanding. It declares a 15%…

A: Dividend :- This can be best understood with the help of an illustration. A person with surplus…

Q: The stockholders' equity section of Jun Co.'s balance sheet as of April 1 follows. On April 2, Jun…

A: (1) Increase in common stock = (200,000 Shares x 10%) x 5 par value = $100,000 (2) Decrease in…

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: Lotoya Davis Corporation has 10 million shares of common stock issued and outstanding. On June 1,…

A: Step 1 The journal entry is recorded for the declaration of dividend under which retained earnings…

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: At the beginning of the year (January 1), Buffalo Drilling has $11,000 of common stock outstanding…

A: Statement of stockholder’s equity: It can be defined as a financial document of the business that…

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: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,…

A: Journal Entries are recording of transactions in company's books of account. It is the act of making…

Q: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,…

A: SOLUTION- JOURNAL ENTRIES-  IT IS A SIMPLY A SUMMARY OF DEBITS AND CREDITS OF THE TRANSACTION ENTRY…

Q: Crane Corporation has 70,000 shares of common stock outstanding. It declares a $1 per share cash…

A:

Q: Explain how to calculate the after stock dividend to enter on the Balance Sheet. At the beginning of…

A: A Stock Dividend is the payment of dividends in the forms of shares of the company. In cash crunch…

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

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

Q: Provide the following journal entry- On Jan 1. ABC Corp declared a 50 cent dividend to stockholders.…

A: Given that  ABC Corp : 50000 shares outstanding  declared dividend = 50%

Q: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,…

A: Journal entries are the transactions that are recorded in the primary book. They are chronological…

Q: On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 72,900 shares of $10 par…

A: Issue of shares is one of the important source of finance being used in business. It consists of…

Q: On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 400,000 shares of $10 par…

A: a.

Q: On October 31, Legacy Rocks Inc., a marble contractor, issued for cash 74,600 shares of $10 par…

A: A. Record journal entries for October 31 and November 19 as shown below:

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

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

Q: On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 70,300 shares of…

A: The organization can raise funds for the operation song integrity by issuing common stock, preferred…

Q: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,…

A: Journal: Journal is the primary books of accounts. Transactions are recorded on it day-to-day basis.…

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.