Vienna Corporation has 31,000 shares of $90 par common stock outstanding. On June 8, Vienna Corporation declared a 4% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $120 per share on June 8.

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: 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: Northwest Clothing Supply has the following transactions during the year related to stockholders'…

A: Total dividend declared  = (no. of Common stock + no. of preferred stock) x dividend per share =…

Q: Q. question 4

A: Prepare entry for reselling the shares.

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: Prior to June 1, Sandler Company had no treasury stock transactions. Then, on June 1, the company…

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

Q: February 16, Hawthorne Co. declares a $0.34 dividend to be paid on April 5. Hawthorne has 2,000,000…

A: Dividend  pay will result in cash outflows

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: Whispering Winds Corporation began operations on April 1 by issuing 59,500 shares of $5 par value…

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

Q: Please help

A: a) Journal Entries:   Date  Account Journal Debit $ Credit $ Jan 10 Cash 104,000     Common…

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: 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: Rodriguez Corporation issues 15,000 shares of its common stock for $209,500 cash on February 20.…

A: If shares were issued at a premium then the difference between issue price and par value is…

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: A company has 180,000 shares of common stock authorized with a par of $1 per share, of which 30,000…

A: Stock dividend is the dividend declared and distributed among the shareholders but in form of stock.…

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: Luke Enterprises has 305,000 shares of $18 par common stock outstanding. On January 19, Luke…

A: Stock dividend result in issuance of shares of company to the existing shareholders unlike the cash…

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: On September 1, the board of directors of Colorado Outfitters, Incorporated, declares and issues a…

A: Journal entries should not be used to record routine transactions such as customer billings and…

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: On June 1, Noonan Inc. issues 3,550 shares of no-par common stock at a cash price of $9 per share.…

A: All the transactions of an entity are properly accounted by making corresponding journal entries in…

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: 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: 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: Prepare the journal entries for the original purchase, the dividend, and the sale under the cost…

A:

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

A: Preferred stock dividend = 8000 shares × $5 = $40,000

Q: Green Thumb, Inc. had 18,000 shares of common stock outstanding on January 1. An additional 6,000…

A: Annual Dividend to Preferred shareholders = No. of preferred share outstanding x Par value per share…

Q: Sunland Company has issued 1,900 shares of common stock and 380 shares of preferred stock for a lump…

A: Stocks are issued at fair value. But, they should record as “par value for share capital” and…

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

A: a.

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: 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: 1. 2. & 3. Record the necessary journal entries assuming a small (10%) stock dividend, a large…

A: Small stock dividend  A small stock dividend is distribution of 25 percent or less outstanding…

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: Fortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first…

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

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

A: A journal entry is used to record a business arrangement in a company's accounting records. A…

Q: Rodriguez Corporation issues 17,000 shares of its common stock for $265,500 cash on February 20.…

A: A par stock is a stock that has a par value which determines the minimum capital amount. A no-par…

Q: Pronghorn Corp began operations on April 1 by issuing 52,200 shares of $4 par value common stock for…

A: Total amount received from issue of common stock = No. of common shares issued x Issue price per…

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: Vincent Corporation has 96,000 share of $100 par common stock outstanding. On June 30, Vincent…

A: Vincent corporation issued shares in excess of par at $121 per share

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: 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.