Antique Buggy Corporation has 820,000 shares of $35 par common stock outstanding. On June 8, Antique Buggy Corporation declared a 5% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $63 per share on June 8.Journalize the entries required on June 8, July 13, and August 12.

Q: On January 1, 2020, Blossom Corporation had 106,000 shares of no-par common stock issued. 5,000…

A: Cash dividend = Number of shares outstanding × Dividend per share = (106000-5000+10000) ×$1 = 111000…

Q: Concord Corporation is authorized to issue 23,500 shares of $50 par value, 10% preferred stock and…

A: The process of recording business transactions in the books of accounts for the first time is…

Q: On February 22, Brett Corporation acquired 180 shares of its $3 par value common stock for $26 each.…

A: The accounting entry on purchase of treasury share at 26 was Debit Treasury stock 4680 and credit…

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

A: Stock dividend is the dividend that is paid in the form of stock rather cash. In this case,…

Q: ow many share would be outstanding after a 2:1 stock split

A: A stock split is when a company divides the existing shares of its stock into multiple new shares.…

Q: At the beginning of the current year, Hardin Company had 20,000 shares of $10 par common stock…

A: Weighted average shares outstanding is a number of shares of the company after incorporating…

Q: Howard Corporation had 10,000 shares of common stock outstanding at the beginning of the year. On…

A: During the year number of shares outstanding are not same. Due to purchase or sale of shares. To…

Q: Perez Corporation was organized on January 1, 2009. During its first year, the corporation issued…

A: A dividend is the distribution of some of a company's earnings to a class of its shareholders, as…

Q: Centex, Inc. issued 47,000 shares of its $1 par value common stock for $30 per share. The journal…

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

Q: Wookie Inc. has the following shareholders equity information at the beginning of the year: 1000…

A: Given:    1,000 shares-$5 par value, issued and outstanding $ 5,000    Stock Split 2:1…

Q: Bernard Corporation has the following shares outstanding: 8,000 shares of $50 par value, six percent…

A: Dividend on common stock = no. of shares x Dividend per share = 50,000 shares x $2.20 per share =…

Q: Trendy Computer Systems reported the following shareholders' equity section as of the beginning of…

A:

Q: On January 2, Year 1, Torres Corporation issued 17,000 shares of $12 par-value common stock for $18…

A: Issue of common stock more than par value: When a company issues common stock at a value more than…

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: 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 January 1, Larkspur, Inc. had 93,000 shares of no-par common stock issued and outstanding. The…

A: Journal entry: This is the first step to record accounts. It is written in the same order in which…

Q: The annual report for Sneer Corporation disclosed that the company declared and paid preferred…

A: Debit Credit   Dividends declared $         160,000     Dividends Payable   $      160,000…

Q: Knapp Industries began business on January 1, 2018 by issuing all of its 1,600,000 authorized shares…

A: Treasury shares has debit account balance. It would be deducted to determine the stockholders'…

Q: On January 1, Pharoah Company had 64,500 shares of no-par common stock issued and outstanding. The…

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

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: Torres Inc. issues 40,000 shares of its $0.05 par value common stock for $70 per share. The journal…

A: To record issue of shares at a value more than par value, common stock will be credited by par value…

Q: Eastline Corporation had 11,000 shares of $10 par value common stock outstanding when the board of…

A: Large stock dividend, A stock dividend is considered to be large if the new shares being issued are…

Q: On January 1 2018, ACI Ltd. had 5,80,000 shares of common stock outstanding . During 2018, it had…

A: Earnings per share is a financial ratio that indicates a company’s ability to earn revenue for its…

Q: Monty Inc. has 5,400,000 shares of common stock issued and outstanding. On April 1, the board of…

A:

Q: On April 1, Blue Devil Inc. has 300,000 shares of $20 par value common stock that are issued and…

A: a. Shares of common stock are issued and outstanding immediately following the stock split: = Common…

Q: Hi-C Company has $1,000,000 shares of 10%, $20 Par Value Preferred Stock outstanding. On December…

A: The Company has $1,000,000 shares of 10%, $ 20 Par Value Preferred Stock outstanding. On December…

Q: On January 1, Lorain Corporation had 2,000 shares of $5 par common stock authorized and outstanding.…

A: Treasury stock: Treaseury stock are the shares which are bought back by the company from the open…

Q: On January 1, Pina Colada Corp. had 94,000 shares of no-par common stock issued and outstanding. The…

A: Common Shares issued and outstanding at the time declaring Dividend on April 1   94000 shares +…

Q: Knapp Industries began business on January 1, 2018 by issuing all of its 1,000,000 authorized shares…

A: The purchase of own shares is known as treasury stock.

Q: Mai Corporation was organized on January 1, 2016, During its first year, the corporation issued…

A: Dividend distribution is a method of distributing profit among the stockholder of the organization.…

Q: n January 1, Vermont Corporation had 41,000 shares of $12 par value common stock issued and…

A: Journal entry: This is the first step to record accounts. It is written in the same order in which…

Q: Milo Co. had 800,000 shares of common stock outstanding on January 1, issued 126,000 shares on May…

A: Basic earnings per share = (Net income - Preferred dividend) / Weighted average no. of common shares…

Q: Global Corporation had 60,000 shares of $20 par value common stock outstanding on July 1. Later that…

A: Stock dividends are dividends paid to the shareholders in the form of shares i.e. instead of cash…

Q: Field Company's stockholders' equity account balances at December 31, 2006, were as follows: Common…

A: Total stockholders equity in the business means total amount attributable to the shareholders of the…

Q: On December 31, 2012, the stockholders' equity section of Arndt, Inc., was as follows: Common stock,…

A: Amount debited to  retained earnings for stock dividend = fair value of the stock x no. of shares…

Q: Ravonette Corporation issued 300 shares of $10 par value common stock and 100 shares of $50 par…

A:

Q: On October 10, the stockholders’ equity of Sherman Systems appears as follows.            Common…

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

Q: On January 1, Molini Corporation had 95,000 shares of no-par common stock issued and outstanding.…

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

Q: On October 10, the stockholders’ equity section of Sherman Systems appears as follows. Common…

A: Shareholder's Equity - This statement includes Common Stock, Paid in Capital in Excess of Par,…

Q: Mt. Everst Company has $1,000,000 shares of 10%, $20 Par Value Preferred Stock outstanding. On…

A: 4% Stock Dividend is recorded using the market price of the stock as of the date of stock dividends…

Q: During the current year, Corporation A had 100,000 shares of common stock outstanding. On July 1,…

A: The formula to calculate the current ratio is (Current Assets/Current Liabilities) Stock split is a…

Q: On January 1, Vermont Corporation had 40,000 shares of $10 par value common stock issued and…

A: Treasury stock: Shares which are bought back by the company from the open market but not retired…

Q: Please I want answer for this question of multiple choice. Big thanks

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

Q: Matthew Corporation is authorized to issue 1,500,000 shares of its P10 par Ordinary Shares. It has…

A: Share-holders equity is the statement of equity in which share issue, dividends and share splits are…

Q: At the start of the fiscal year, Comfortable Company has 100,000 shares of its ₱10 par value common…

A: Solution: Common stock at the end of year= 120000*10 = 1,200,000 Additional paid in capital =…

Q: On January 1, 2007, Part Corporation had issued and outstanding 10,000 shares of P10 par common…

A: The dividend can be paid in cash form or shares form. The stock dividend less than 25% is issued at…

Q: Knapp Industries began business on January 1, 2018 by issuing all of its 1,000,000 authorized shares…

A: Journal Entry - It is record of every business transaction whether it economic or non economic for a…

Q: Sanders Corporation has the following shares outstanding: 6,000 shares of $50 par value, 6%…

A: Please find the answers to the above questions below:

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.