Pro-Builders corporation has 1,500,000 shares par common stock outstanding. On September 2, pro- builders corporation declared a $3 stock dividend to be issued  November 30 to stockholders of record on October 3. The market price of the stock was $36 per share on September 2.  Journalize the entries required on September 2, October 3,and November 30. If no entry is required, simply  skip to the next transaction.

Q: On October 10, the board of directors of Pinto Corporation declared a 10% stock dividend. On October…

A: Journal entry shows recording of each and every business transaction. Every transaction have dual…

Q: Vincent Corporation has 91,000 shares of $105 par common stock outstanding. On June 30, Vincent…

A: Introduction: A journal entry is a record of a business arrangement in the accounting system of a…

Q: On February 12, Quality Carpet Inc., a carpet wholesaler, issued for cash 1,000,000 shares of no-par…

A: Given, 1,000,000 common shares (stated value of $0.25) issued at $1.20 10,000 preferred shares (par…

Q: Alpine Energy Corporation has 1,500,000 shares of $10 par common stock outstanding. On August 2,…

A: Required journal entry:

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: 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: Smart Corp. was organized on Jan. 1 with authorization of 10,000 shares of $5 preferred stock, $100…

A: The entry for preferred stock issued   Date Particular Debit ($) Credit ($) Dec 31 Cash 20,000…

Q: Zurich Corporation has 18,000 shares of $80 par common stock outstanding. On August 2, Zurich…

A: Common Stock- Common Stock refers to the securities that represent individuals' ownership and have a…

Q: Anslo Fabricating, Inc. is authorized to issue 10,000,000 shares of $5 stated value common stock.…

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

Q: On March 1, the company issued 50,000 preferred shares with a 5% cumulative dividend for $10 per…

A: Preference shares are those who are given preference over the equity holders while at the payment of…

Q: The following accounts appear in the ledger of Alico Corporation after the books are closed at…

A: Stockholders’ equity: It refers to the residual amount of assets that are available to the company’s…

Q: When Crossett Corporation was organized in January, Year 1, it immediately issued 4,500 shares of…

A: Dividend: Dividend is distributed to Share holders of the company. Share holders are the real owners…

Q: When Crossett Corporation was organized in January Year 1, it immediately issued 4,700 shares of $48…

A: Dividend Arrearage = Preference Share amount per share * No. of share preference shares issued *…

Q: Red Market Corporation has 370,000 shares of $27 par common stock outstanding. On June 8, Red Market…

A: Dividend refers to the return a shareholder gets on his investment made in stocks. It can be cash…

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

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

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

A: The company can raise funds by various methods. Some of them are, by way of issuing common stock,…

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

A: Total stockholders’ equity = Total paid-in capital + Retained earnings - Treasury stock

Q: Pro-Builders Corporation has 242,000 shares of $30 par common stock outstanding. On September 2,…

A: INTRODUCTION Dividend is distribution of company’s profit and it is paid in the form of cash or…

Q: On January 1, 20X5, Solace Medical Corp. (SMC) has 85,000 common shares outstanding. The following…

A: Weighted average number of shares outstanding is calculated using the time factor and the number of…

Q: On December 1 of the current year, the following accounts and their balances appear in the ledger of…

A: Journal: Recording of a business transactions in a chronological order.

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

A: Paid in capital in excess of stated value = (Par value per share - Stated value per share) x No. of…

Q: Red Market Corporation has 370,000 shares of $27 par common stock outstanding. On June 8, Red Market…

A: Solution:- Journal entries in the books of Red Market Corporation

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: Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock,…

A: Journal is the book where transactions are originally recorded.  Journal entry: A journal entry is…

Q: Pro-Builders Corporation has 1,500,000 shares of $5 par common stock outstanding. On September 2,…

A: Stock Dividends: It refers to the payment of dividends by a company to its existing shareholders, in…

Q: Waterway Corporation has 41,500 shares of $10 par value common stock outstanding. It declares a 15%…

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

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

A: Stock dividend = 120,000*15% Stock dividend = 18,000 shares

Q: When Crossett Corporation was organized in January, Year 1, it immediately issued 4,100 shares of…

A: Common stock means the outstanding share of the company in which the investor invested their money…

Q: Antique Buggy Corporation has 820,000 shares of $35 par common stock outstanding. On June 8, Antique…

A: Given: Outs standing share = 820,000 Stock dividend = 5% Market price on June 8 = $63

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: Red Market Corporation has 370,000 shares of $27 par common stock outstanding. On June 8, Red Market…

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

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: Sherry, Inc. had 140,000 shares of $5 par value common stock issued and outstanding as of December…

A: No. of shares issued under stock dividend = Number of outstanding shares x 40% = 140,000 shares x…

Q: op-Value Corporation has 256,500 shares of $35 par common stock outstanding. On September 2,…

A: Journal: It is the first step of recording financial transactions. It is used to prepare the…

Q: 1. Homework Chapter 10

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

Q: Journalize the entries needed on the declaration and payment dates.

A: Journal entry:   It is a systematic record of a financial transaction of an organization recorded in…

Q: On May 27, Kick Off Inc. reacquired 3,000 shares of its common stock at $54 per share. On August 3,…

A: Treasury Stock: It refers to the shares that are reacquired by the corporation that are already…

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: Top-Value Corporation has 900,000 shares of $26 par common stock outstanding. On September 2,…

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

Q: On January 31, Outback Coast Resorts Inc. reacquired 23,900 shares of its common stock at $31 per…

A: Required Journal Entries are as follows:

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: Journalize the entries to record the May transactions. Refer to the Chart of Accounts for exact…

A: Given:

Q: Milton Company’s charter authorizes 1,000,000 shares of common stock and 400,000shares of preferred…

A: These are the ordinary shares that a corporation issues to the investors in order to raise funds. In…

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: 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: How many shares of common stock were outstanding at the end of the period? How many shares of…

A: 1. When common stock is issued for cash, cash, and common stock increase. Cash XXXX…

Q: Red Market Corporation has 370,000 shares of $27 par common stock outstanding. On June 8, Red Market…

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

Q: Clothing Frontiers began operations on January 1 and engages in the following transactions during…

A: The journal entries are prepared by the company to record the monetary transactions of a company in…

Q: Solar Company has 600,000 shares of $75 par common stock outstanding. On February 13, Solar declared…

A: Stock dividend = No. of common stock outstanding x  stock dividend  rate x market price of the stock…

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.