What the answer for 12 LMar ssue 5,000 additional shares of preferred stock fors102.50 per shareIssue 100,000 additional shares of common stock forIs25.00 реr share1-AprDeclare a cash dividend on both common and1-Jun preferred stock of $0.75 per share to all stockholdersof record on June 15.30-Jun Pay the cash dividend declared on June 1.1-Aug Repurchase (buy) 50,000 shares of common treasurystock for $26.00 per shareo. Resell 40,000 shares of treasury stock purchased onAugust 1 for $26.50 per share31-Dec Net income for the year was $750,000The beginning balances are shown below. Complete theStockholders' EquityStatement ofusing the aboveinformation:AdditionalTotalPreferredStockPaid-inCapitalStockholders'EquityCommonRetainedTreasuryStockEarningsStockBeginning balance20XC$1,000,000$80,000$7,600,000$1,200,000so$9,880,000Issuance of stockNet income for the yearLess: DividendsPurchase Treasury stockResell Treasury stockEnding balance 20XC2$March 1, how much did additional paid in capitalincrease?6.When the shares were issued onOn August 1st when the shares wereequity7.repurchased,decrease?how muchdid stockholders'8.2$On August 1st when the shares wererepurchased, how much did net income decrease?9.$On October 1st when the 40,000shares were resold, how much did additional paid incapital change (if decrease put "-“ in front of thenumber)?On June 1st when the dividendwas declared, how much did retained earning decrease?10.$11.$Compute ending retained earningson December 31st12.$Compute ending stockholdersequity on December 31st. Use the following to answer questions 6 – 12J&TR, Inc., has two classes of stock authorized: $100.00 parpreferred and $0.10 par value common. As of the beginningof 20XC, 10,000 shares of preferred stock and 800,000shares of common stock have been issued.Record the following transactions to complete the Statementof Stockholders’ Equity:Effect on Stockholders' EquityL.Mar Issue 5,000 additional shares of preferred stock forS102.50 per shareL-Apr ssue 100,000 additional shares of common stock for$25.00 per shareDeclare a cash dividend on both common and1-Jun preferred stock of $0.75 per share to all stockholdersof record on June 15.30-Jun Pay the cash dividend declared on June 1.LAve Repurchase (buy) 50,000 shares of common treasurystock for $26.00 per shareResell 40,000 shares of treasury stock purchased onAugust 1 for $26.50 per share31-Dec Net income for the year was $750,0001-OctThe beginning balances are shown below. Complete theEquityStatement of Stockholders'using theaboveinformation:AdditionalTotalStockholders'PreferredStockPaid-inСapitalRetainedEarningsTreasuryStockCommonStockEquityBeginning balance20XC$1,000,000$80,000$7,600,000S1,200,000so$9,880,000Issuance of stockNet income for the yearLess: DividendsPurchase Treasury stockResell Treasury stockEnding balance 20XC6.2$When the shares were issued onMarch 1, how much did additional paid in capitalincrease?2$On August 1st when the shares werestockholders' equity7.repurchased, how muchdecrease?did8.$On August 1st when the shares wererepurchased, how much did net income decrease?On October 1st when the 40,000$shares were resold, how much did additional paid incapital change (if decrease put "-“ in front of thenumber)?9.10.$On June 1st when the dividend

I am answering the question number 12 as specifically asked by the student. Common shares are…

Issue 5,0 s102.50 per share nal shares of preferred stock for 1-Mar 1-Mar Issue 100,000 additional shares of common stock for s25.00 per share Declare a cash dividend on both common and 1-Jun preferred stock of $0.75 per share to all stockholders of record on June 15. 30-Jun Pay the cash dividend declared on June 1. 1-Apr Repurchase (buy) 50,000 shares of common treasury stock for $26.00 per share Resell 40,000 shares of treasury stock purchased on August I for $26.50 per share 31-Dec Net income for the year was $750,000 1-Aug 1-Oct

Issue 5,0 s102.50 per share nal shares of preferred stock for 1-Mar 1-Mar Issue 100,000 additional shares of common stock for s25.00 per share Declare a cash dividend on both common and 1-Jun preferred stock of $0.75 per share to all stockholders of record on June 15. 30-Jun Pay the cash dividend declared on June 1. 1-Apr Repurchase (buy) 50,000 shares of common treasury stock for $26.00 per share Resell 40,000 shares of treasury stock purchased on August I for $26.50 per share 31-Dec Net income for the year was $750,000 1-Aug 1-Oct

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter21: Corporations: Taxes, Earnings, Distributions, And The Statement Of Retained Earnings

Section: Chapter Questions

Problem 3SEB: COMMON AND PREFERRED CASH DIVIDENDS Ramirez Company currently has 100,000 shares of 1 par common...

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Preferred Dividends Eastern Inc.s equity includes 8%, $25 par preferred stock. There are 100,000 shares authorized and 45,000 shares outstanding. Assume that Eastern declares and pays preferred dividends quarterly. Required: Prepare the journal entry to record declaration of one quarterly dividend. Prepare the journal entry to record payment of the one quarterly dividend.
STOCK DIVIDENDS Kaufman Company currently has 200,000 shares of 1 par common stock outstanding. On March 15, a 10% stock dividend was declared to shareholders of record on April 2, distributable on April 14. Market value of the common stock was estimated at 5 per share. 1. Prepare journal entries for the declaration and distribution of the 10% common stock dividend. 2. Assume Kaufman Company declared a stock dividend of 30% rather than 10%. Prepare journal entries for the declaration and distribution of the 30% common stock dividend.
COMMON AND PREFERRED CASH DIVIDENDS Ramirez Company currently has 100,000 shares of 1 par common stock outstanding and 5,000 shares of 50 par preferred stock outstanding. On July 10, the board of directors declared a semiannual dividend of 0.30 per share on common stock to shareholders of record on August 1, payable on August 5. On July 15, the board of directors declared a semiannual dividend of 5 per share on preferred stock to shareholders of record on August 5, payable on August 10. Prepare journal entries for the declaration and payment of the common and preferred stock cash dividends.
STOCK DIVIDENDS Martinez Company currently has 200,000 shares of 1 par common stock outstanding. On March 15, a 5% stock dividend was declared to shareholders of record on April 2, distributable on April 14. Market value of the common stock was estimated at 13 per share. 1. Prepare journal entries for the declaration and distribution of the 5% common stock dividend. 2. Assume Martinez Company declared a stock dividend of 30% rather than 5%. Prepare journal entries for the declaration and distribution of the 30% common stock dividend.
Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31, 2016, were as follows: a. Issued 15,000 shares of 20 par common stock at 30, receiving cash. b. Issued 4, 000 shares of 80 par preferred 5% stock at 100, receiving cash. c. Issued 500,000 of 10-year, 5% bonds at 104, with interest payable semiannually. d. Declared a quarterly dividend of 0.50 per share on common stock and 1.00 per share on preferred stock. On the date of record, 100,000 shares of common stock were outstanding, no treasury shares were held, and 20,000 shares of preferred stock were outstanding. e. Paid the cash dividends declared in (d). f. Purchased 7,500 shares of Solstice Corp. at 40 per share, plus a 150 brokerage commission. The investment is classified as an available-for-sale investment. g. Purchased 8,000 shares of treasury common stock at 33 per share. h. Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for 24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. i. Declared a 1.00 quarterly cash dividend per share on preferred stock. On the date of record, 20,000 shares of preferred stock had been issued. j. Paid the cash dividends to the preferred stockholders. k. Received 27,500 dividend from Pinkberry Co. investment in (h). l. Purchased 90,000 of Dream Inc. 10-year, 5% bonds, directly from the issuing company, at their face amount plus accrued interest of 37 5. The bonds are classified as a held-to-maturity long -term investment. m. Sold, at 38 per share, 2,600 shares of treasury common stock purchased in (g). n. Received a dividend of 0 .60 per share from the Solstice Corp. investment in (f). o. Sold 1,000 shares of Solstice Corp. at 45, including commission. p. Recorded the payment of semiannual interest on the bonds issue d in (c) and the amortization of the premium for six months. The amortization is determined using the straight-line method . q. Accrued interest for three months on the Dream Inc. bonds purchased in (I). r. Pinkberry Co. recorded total earnings of 240 ,000. Equinox Products recorded equity earnings for its share of Pinkberry Co. net income. s. The fair value for Solstice Corp. stock was 39. 02 per share on December 31, 2016. The investment is adjusted to fair value , using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments h ad a beginning balance of zero. Instructions 1. Journalize the selected transactions. 2. After all of the transaction s for the year ended December 31, 201 6, had been poste d [including the transactions recorded in part (1) and all adjusting entries), the data that follows were taken from the records of Equinox Products Inc. a. Prepare a multiple-step in come statement for the year ended December 31, 201 6, concluding with earnings per share . In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were 100,000. ( Round earnings per share to the nearest cent.) b. Prepare a retained earnings statement for the year ended December 31, 20 6. c. Prepare a balance sheet in report form as of December 31, 2016.
Common Dividends Fusion Payroll Service began 2019 with 1,200,000 authorized and 375,000 issued and outstand ing $5 par common shares. During 2019, Fusion entered into the following transactions: Declared a S0.30 per-share cash dividend on March 10. Paid the $0.30 per-share dividend on April 10. Repurchased 8,000 common shares at a cost of $18 each on May 2. Sold 1.500 unissued common shares for $23 per share on June 9. Declared a $0.45 per-share cash dividend on August 10. Paid the $0.45 per-share dividend on September 10. Declared and paid a 5% stock dividend on October 15 when the market price of the common stock was $25 per share. Declared a $0.50 per-share cash dividend on November 10. Paid the $0.50 per-share dividend on December 10. Required: Prepare journal entries for each of these transactions. (Note: Round to the nearest dollar.) Determine the total dollar amount of dividends (cash and stock) for the year. CONCEPTUAL CONNECTION Determine the effect on total assets and total stockholders equity of these dividend transactions.
A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional paid-in capital would be ________. A. $11,985 B. $12,000 C. $15 D. $10,150