Exercise 18-19 (Algo) Stock dividend [LO18-8]The shareholders' equity of Core Technologies Company on June 30, 2023, included the following:Common stock, $1 par; authorized, 5 million shares;issued and outstanding, 1 million sharesPaid-in capital-excess of parRetained earnings$ 1,000,0004,000,0008,000,000On April 1, 2024, the board of directors of Core Technologies declared a 10% stock dividend on common shares, to be distributed onJune 1. The market price of Core Technologies' common stock was $20 on April 1, 2024, and $30 on June 1, 2024.Required:Prepare the journal entries to record the declaration and distribution of the stock dividend.Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Exercise 18-13 (Algo) Treasury stock; weighted-average and FIFO cost [LO18-5]At December 31, 2023, the balance sheet of Meca International included the following shareholders' equity accounts:($ in millions)$85450560Shareholders' EquityCommon stock, 85 million shares at $1 parPaid-in capital-excess of parRetained earningsRequired:Assuming that Meca International views its share buybacks as treasury stock, record the appropriate journal entry for each of thefollowing transactions:Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answersin millions (i.e., 10,000,000 should be entered as 10).1. On February 12, 2024, Meca reacquired 2 million common shares at $15 per share.2. On June 9, 2025, Meca reacquired 3 million common shares at $10 per share.3. On May 25, 2026, Meca sold 3 million treasury shares at $18 per share. Determine cost as the weighted-average cost of treasuryshares.4. For the previous transaction, assume Meca determines the cost of treasury shares by the FIFO method.

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Accounting (Text Only)

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Chapter13: Corporations: Organization, Stock Transactions, And Dividends

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Problem 13.4CP

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Problem 10-86A Stock Dividends and Stock Splits Lance Products balance sheet includes total assets of $587,000 and the following equity account balances at December 31, 2019: Lances common stock is selling for $12 per share on December 31, 2019. Required: How much would Lance Products have reported for total assets and retained earnings on December 31, 2019, if the firm had declared and paid a $15,000 cash dividend on December 31, 2019? Prepare the journal entry for this cash dividend. How much would Lance have reported for total assets and retained earnings on December 31, 2019, if the firm had issued a 15% stock dividend on December 31, 2019? Prepare the journal entry for this stock dividend. CONCEPTUAL CONNECTION How much would Lance have reported for total assets and retained earnings on December 31, 2019, if the firm had effected a 2-for-l stock split on December 31, 2019? Is a journal entry needed to record the stock split? Why or why not?
Print by: Tanvi Varma374275:374275: Intermediate Accounting Theory and Practice MGMT X 120B (Summer 2020) / Ch. 15 HW *Exercise 15-18 Nash Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 1,800 shares issued) $180,000 Common stock, $5 par (96,000 shares authorized, 19,200 shares issued) 96,000 Additional paid-in capital 113,000 Retained earnings 449,000 Total $838,000 During 2020, Nash took part in the following transactions concerning stockholders’ equity. 1. Paid the annual 2019 $9 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2. Purchased 1,800 shares of its own outstanding common stock for $42 per share. Nash uses the cost method. 3. Reissued 800 treasury shares for land valued at $34,500. 4.…
6) Exercise 18-23 (Static) Transactions affecting retained earnings [LO18-6, 18-7, 18-8] The balance sheet of Consolidated Paper, Inc., included the following shareholders’ equity accounts at December 31, 2020: Paid-in capital: Preferred stock, 8.8%, 90,000 shares at $1 par $ 90,000 Common stock, 364,000 shares at $1 par 364,000 Paid-in capital—excess of par, preferred 1,437,000 Paid-in capital—excess of par, common 2,574,000 Retained earnings 9,735,000 Treasury stock, at cost; 4,000 common shares (44,000 ) Total shareholders' equity $ 14,156,000 During 2021, several events and transactions affected the retained earnings of Consolidated Paper. Required:1. Prepare the appropriate entries for these events: On March 3, the board of directors declared a property dividend of 240,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an investment (book value: $700,000). The investment…
65. The stockholders’ equity of A Company at the end of 2023 and 2022 are as follows: 2023 2022 Preferred stock, P100 par, 12% P1,000,000 P 600,000 Common stock, P20 par 2,000,000 1,800,000 Paid in capital in excess of par Preferred 16,000 - Common 4,350,000 3,750,000 Retained earnings 80,000 180,000 At what price per share are the shares of preferred stock issued in 2023?
GL1302 - Based on Problem 13-4A Atticus Group LO C3, P2, P3 The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow. Stockholders’ Equity January 1 Common stock—$4 par value, 100,000 sharesauthorized, 40,000 shares issued and outstanding $ 160,000 Paid-in capital in excess of par value, common stock 120,000 Retained earnings 320,000 Total stockholders’ equity $ 600,000 Stockholders’ Equity (December 31) Common stock—$4 par value, 100,000 sharesauthorized, 47,400 shares issued, 3,000 shares in treasury $ 189,600 Paid-in capital in excess of par value, common stock 179,200 Retained earnings ($30,000 restricted by treasury stock) 400,000 768,800 Less cost of treasury stock (30,000 ) Total stockholders’ equity $ 738,800 The following transactions and events affected its equity during the year. Jan. 5 Declared a $0.50 per share cash…
6) Day 5 Exercise 18-23 (Static) Transactions affecting retained earnings [LO18-6, 18-7, 18-8] The balance sheet of Consolidated Paper, Inc., included the following shareholders’ equity accounts at December 31, 2020: Paid-in capital: Preferred stock, 8.8%, 90,000 shares at $1 par $ 90,000 Common stock, 364,000 shares at $1 par 364,000 Paid-in capital—excess of par, preferred 1,437,000 Paid-in capital—excess of par, common 2,574,000 Retained earnings 9,735,000 Treasury stock, at cost; 4,000 common shares (44,000 ) Total shareholders' equity $ 14,156,000 During 2021, several events and transactions affected the retained earnings of Consolidated Paper. Required:1. Prepare the appropriate entries for these events: On March 3, the board of directors declared a property dividend of 240,000 shares of Leasco International common stock that Consolidated Paper had purchased in January as an investment (book value: $700,000). The…
19.2 The analysis of shareholder’s equity of AAA Company at January 1, 2020 showed the following: Ordinary shares, par value P20, authorized 200,000 shares, issued and outstanding , 120,000 shares – P2,400,000 Share premium – P480,000 Retained Earnings – P1,540,000 The company uses the cost method of accounting for treasury shares and the following transactions took place: Acquired 2,000 shares of its shares for P70,000 Sold 1,200 treasury shares at P40 per share 2 for 1 stock split Retired the remaining treasury shares Retained Earnings –? Shareholder’s Equity –?

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