Question

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

journalize

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Answer

Entry 1

Post ref Debit (S) Credit (S) Date Sept.2 $1,620.000 Description Stock Dividends (1,500,000 shares*3%*$36) Stock Dividends Di

Entry 2

Post ref Credit (S) Date May, 15 Description Stock Dividend Distributable Debit (S) $225,000 $225,000 Common stock (To record

Note:

No entry will be passed on October 3 (as it just shows the shareholders to whom dividends will be given)

In case of any doubt, please comment.

Add a comment
Know the answer?
Add Answer to:
journalize Pro-Builders Corporation has 1,500,000 shares of $5 par common stock outstanding. On September 2. Pro-Buiders...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Pro-Builders Corporation has 271,000 shares of $30 par common stock outstanding. On September 2, Pro-Builders Corporation...

    Pro-Builders Corporation has 271,000 shares of $30 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 $49 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. Refer to the Chart of Accounts for exact wording of account...

  • Instructions Vincent Corporation has 95,000 shares of $110 par common stock outstanding. On June 30, Vincent...

    Instructions Vincent Corporation has 95,000 shares of $110 par common stock outstanding. On June 30, Vincent Corporation declared a 6% stock dividend to be issued on July 30 to stockholders of record July 15. The market price of the stock was $118 a share on June 30. Required: Journalize the entries required on June 30 and July 30. i no entry is required, simply skip to the next transaction Refer to the Chart of Accounts for exact wording of account...

  • Olde Wine Corporation has 265,500 shares of $30 par common stock outstanding. On February 15, Olde...

    Olde Wine Corporation has 265,500 shares of $30 par common stock outstanding. On February 15, Olde Wine Corporation declared a 1% stock dividend to be issued May 2 to stockholders of record on March 27. The market price of the stock was $50 per share on February 15. Journalize the entries required on February 15, March 27, and May 2. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording...

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

    Solar Company has 600,000 shares of $75 par common stock outstanding. On February 13, Solar declared a 3% stock dividend to be issued on April 30 to stockholders of record on March 14. The market price of the stock was $90 per share on February 13. Required: Journalize the entries required on February 13, March 14, and April 30. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of...

  • On February 13, Epperson Company issued for cash 75,000 shares of no-par common stock (with a...

    On February 13, Epperson Company issued for cash 75,000 shares of no-par common stock (with a stated value of $125) at $140. On September 9, Epperson issued at par 15,000 shares of 1%, $60 par preferred stock at par for cash. On November 23, Epperson issued for cash 8,000 shares of 1%, $60 par preferred stock at $70. Required: Journalize the entries to record the February 13, September 9, and November 23 transactions. Refer to the Chart of Accounts for...

  • journalize the transactions Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year...

    journalize the transactions Selected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows Jan. 8 Spit the common stock 2 for 1 and reduced the par from $80 to $40 per share. After the sple, there were 150,000 common shares outstanding Apr 30 Jul. Oct. 1 31 Declared semiannual dividends of $0.75 on 18,000 shares of preferred stock and $0.28 on the common stock payable on July 1. Paid the cash dividends Declared semiannual...

  • Nevada Corporation has 63,200 shares of $26 par stock outstanding that has a current market value...

    Nevada Corporation has 63,200 shares of $26 par stock outstanding that has a current market value of $158. If the corporation issues a 5-for-1 stock split, the number of shares outstanding will be Oa 821,600 Ob. 316,000 Oc. 63,200 Od. 252,800 When Wisconsin Corporation was formed on January 1, the corporate charter provided for 98,000 shares of $10 par value common stock. During its first month of operation, the corporation issued 8,340 shares of stock at a price of $22...

  • On April 2 a corporation purchased for cash 7,000 shares of its own $11 par common...

    On April 2 a corporation purchased for cash 7,000 shares of its own $11 par common stock at $20 a share. It sold 4,000 of the treasury shares at $32 a share on June 10. The remaining 3,000 shares were sold on November 10 for $25 a share. Required: (a) Joumalize the entries to record the purchase (Treasury stock is recorded at cost), (b) Journalize the entries to record the sale of the stock *Refer to the Chart of Accounts...

  • Show Me How Calculator Entries for Stock Dividends Alpine Energy Corporation has 1,500,000 shares of $10...

    Show Me How Calculator Entries for Stock Dividends Alpine Energy Corporation has 1,500,000 shares of $10 par common stock outstanding on August 2. Aline Energy declared a 5% stock dividend to be issued October 8 to stockholders of record on September 15. The market price of the stock was $60 per share on August 2 Journalize the entries required on August 2, September 15, and October 8. If no entry is required select 'No Entry Required and leave the amount...

  • Dividends Per Share Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 22,000...

    Dividends Per Share Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 22,000 shares of cumulative preferred 2% stock, $160 par, and 73,000 shares of $15 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $47,080; second year, $103,720; third year, $132,140; fourth year, $163,840. Compute the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places....

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT