Homework Answers
| Date | Account Title and Explanation | Debit | Credit |
| June 30 | Retained earnings | 35,000 | |
| Common dividend payable | 35,000 | ||
| (To record declaration of cash dividend) | |||
| July 15 | No entry | ||
| July 31 | Common dividend payable | 35,000 | |
| Cash | 35,000 | ||
| (To record payment of dividend) |
Dividend = $0.35 x 100,000 = $35,000
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Problem 10 points. Show your calculations to solve this problem and answer...
Q3. What are the characteristics of corporations (2.5 mark). Q4. On July 31, a company declared...
Q3. What are the characteristics of corporations (2.5 mark). Q4. On July 31, a company declared a cash dividend of $0.25 per common share to the shareholders of record on August 15. The cash dividend will be paid on August 25. This company has 500,000 shares authorized and 100,000 shares outstanding. Prepare the journal entries required on July 31, August 15 and August 25 (2.5 Marks).
Please show calculations so I would actually understand it thank you so much. Pacifica Papers Inc....
Please show calculations so I would actually understand it thank
you so much.
Pacifica Papers Inc. needed to conserve cash, so instead of a cash dividend the board of directors declared a 5% common share dividend on June 30, 2020, distributable on July 15, 2020. Because performance during 2020 was better than expected, the company's board of directors declared a $0.95 per share cash dividend on November 15, 2020, payable on December 1, 2020, to shareholders of record on November...
Spaces provided for calculations. SHOW ALL OF YOUR WORK. 1: We Move Fast Corporation has 100,000...
Spaces provided for calculations. SHOW ALL OF YOUR WORK. 1: We Move Fast Corporation has 100,000 $1 par value shares outstanding. On July 1, We Move Fast declared a 30% stock dividend when stocks were selling for $7 per share. The stock will be distributed to stockholders on August 2. Record all the journal entries necessary. If one is not necessary, state “no journal entry required”. (6 points)
can you please solve this On December 31, 2020, Ivanhoe Corporation had the following shareholders' equity...
can you please solve this
On December 31, 2020, Ivanhoe Corporation had the following shareholders' equity accounts: IVANHOE CORPORATION Balance Sheet (partial) December 31, 2020 Shareholders' equity Common shares (unlimited number of shares authorized, 90,000 issued) Retained earnings Total shareholders' equity $1.052,000 550,000 $1,602,000 During the year, the following transactions occurred: Jan. 15 Declared a $1 per share cash dividend to shareholders of record on January 31, payable February 15, July 1 Announced a 2-for-1 stock split. The market price...
Problem 3- Complete the journal entries. value stock to the public for $5 per share. On June 30, they sold 50,000 mue Sl...
Problem 3- Complete the journal entries.
value stock to the public for $5 per share. On June 30, they sold 50,000 mue Sllall ULUU PUI share. On July 1, they declared a dividend of $.25 per share, payable on July 30 to shareholders of record on July 15. On July 30 they paid the dividend. Problem 3 On January 1 Collen Company began operations by issuing 10,000 shares of $1 par value stock for $10 per share. On June 30th...
Show all work please. Problem 10 points. Show your calculations to solve this problem and answer...
Show all work please.
Problem 10 points. Show your calculations to solve this problem and answer these questions 181 On June 1, Jasper Company signed a $25,000, 120-day, 6% note payable to cover a past due account payable. a. What is the total amount of interest to be paid on this note? b. Prepare Jasper Company's general journal entry or t-accounts to record the issuance of the note payable. C. Prepare Jasper Company's general journal entry or t-accounts to record...
Please Solve for EPS. The Net Income is 300,000. Please answer ASAP. J а 1 EN-6...
Please Solve for EPS. The Net Income is 300,000. Please answer
ASAP.
J а 1 EN-6 on January 1, Vanessa Corporation had 60,000 shares of no-par common stock NL issued and outstanding. The stock has a stated value of $4 per share. During the year, the following transactions occurred. Apr. Issued 9,000 additional shares of common stock for $11 per share. June 15 Declared a cash dividend of $1.50 per share to stockholders of record on June 30. July 10...
Pacifica Papers Inc. needed to conserve cash, so instead of a cash dividend the board of...
Pacifica Papers Inc. needed to conserve cash, so instead of a
cash dividend the board of directors declared a 5% common share
dividend on June 30, 2020, distributable on July 15, 2020. Because
performance during 2020 was better than expected, the company’s
board of directors declared a $0.95 per share cash dividend on
November 15, 2020, payable on December 1, 2020, to shareholders of
record on November 30, 2020. The equity section of Pacifica’s
December 31, 2019, balance sheet showed:...
Exercise 15-14 On January 1, 2020, Pina Colada Ltd. (a public company) had the following shareholders’...
Exercise 15-14
On January 1, 2020, Pina Colada Ltd. (a public company) had the
following shareholders’ equity accounts:
Preferred shares, $5 non–cumulative, unlimited number
authorized, none issued
0
Common shares, unlimited number authorized, 740,000 issued
$
5,920,000
Retained earnings
1,259,000
Accumulated other comprehensive income
150,000
The following selected transactions occurred during 2020:
Jan. 2
Issued 100,000 preferred shares at $100 per share.
Mar. 5
Declared the quarterly cash dividend to preferred shareholders
of record on March 20, payable April 1....
Show all work please. Problem 10 points. Show your calculations to solve this problem and answer...
Show all work please.
Problem 10 points. Show your calculations to solve this problem and answer these questions 186. A company issued 9%, 10-year bonds with a par value of $100,000. Interest is paid semiannually. The market interest rate on the issue date was 10%, and the issuer received $95.016 cash for the bonds. On the first semiannual interest date, what amount of cash should be paid to the holders of these bonds for interest? (Note this is a calculation...
Q3. What are the characteristics of corporations (2.5 mark). Q4. On July 31, a company declared a cash dividend of $0.25 per common share to the shareholders of record on August 15. The cash dividend will be paid on August 25. This company has 500,000 shares authorized and 100,000 shares outstanding. Prepare the journal entries required on July 31, August 15 and August 25 (2.5 Marks).
Please show calculations so I would actually understand it thank
you so much.
Pacifica Papers Inc. needed to conserve cash, so instead of a cash dividend the board of directors declared a 5% common share dividend on June 30, 2020, distributable on July 15, 2020. Because performance during 2020 was better than expected, the company's board of directors declared a $0.95 per share cash dividend on November 15, 2020, payable on December 1, 2020, to shareholders of record on November...
Spaces provided for calculations. SHOW ALL OF YOUR WORK. 1: We Move Fast Corporation has 100,000 $1 par value shares outstanding. On July 1, We Move Fast declared a 30% stock dividend when stocks were selling for $7 per share. The stock will be distributed to stockholders on August 2. Record all the journal entries necessary. If one is not necessary, state “no journal entry required”. (6 points)
can you please solve this
On December 31, 2020, Ivanhoe Corporation had the following shareholders' equity accounts: IVANHOE CORPORATION Balance Sheet (partial) December 31, 2020 Shareholders' equity Common shares (unlimited number of shares authorized, 90,000 issued) Retained earnings Total shareholders' equity $1.052,000 550,000 $1,602,000 During the year, the following transactions occurred: Jan. 15 Declared a $1 per share cash dividend to shareholders of record on January 31, payable February 15, July 1 Announced a 2-for-1 stock split. The market price...
Problem 3- Complete the journal entries.
value stock to the public for $5 per share. On June 30, they sold 50,000 mue Sllall ULUU PUI share. On July 1, they declared a dividend of $.25 per share, payable on July 30 to shareholders of record on July 15. On July 30 they paid the dividend. Problem 3 On January 1 Collen Company began operations by issuing 10,000 shares of $1 par value stock for $10 per share. On June 30th...
Show all work please.
Problem 10 points. Show your calculations to solve this problem and answer these questions 181 On June 1, Jasper Company signed a $25,000, 120-day, 6% note payable to cover a past due account payable. a. What is the total amount of interest to be paid on this note? b. Prepare Jasper Company's general journal entry or t-accounts to record the issuance of the note payable. C. Prepare Jasper Company's general journal entry or t-accounts to record...
Please Solve for EPS. The Net Income is 300,000. Please answer
ASAP.
J а 1 EN-6 on January 1, Vanessa Corporation had 60,000 shares of no-par common stock NL issued and outstanding. The stock has a stated value of $4 per share. During the year, the following transactions occurred. Apr. Issued 9,000 additional shares of common stock for $11 per share. June 15 Declared a cash dividend of $1.50 per share to stockholders of record on June 30. July 10...
Pacifica Papers Inc. needed to conserve cash, so instead of a
cash dividend the board of directors declared a 5% common share
dividend on June 30, 2020, distributable on July 15, 2020. Because
performance during 2020 was better than expected, the company’s
board of directors declared a $0.95 per share cash dividend on
November 15, 2020, payable on December 1, 2020, to shareholders of
record on November 30, 2020. The equity section of Pacifica’s
December 31, 2019, balance sheet showed:...
Exercise 15-14
On January 1, 2020, Pina Colada Ltd. (a public company) had the
following shareholders’ equity accounts:
Preferred shares, $5 non–cumulative, unlimited number
authorized, none issued
0
Common shares, unlimited number authorized, 740,000 issued
$
5,920,000
Retained earnings
1,259,000
Accumulated other comprehensive income
150,000
The following selected transactions occurred during 2020:
Jan. 2
Issued 100,000 preferred shares at $100 per share.
Mar. 5
Declared the quarterly cash dividend to preferred shareholders
of record on March 20, payable April 1....
Show all work please.
Problem 10 points. Show your calculations to solve this problem and answer these questions 186. A company issued 9%, 10-year bonds with a par value of $100,000. Interest is paid semiannually. The market interest rate on the issue date was 10%, and the issuer received $95.016 cash for the bonds. On the first semiannual interest date, what amount of cash should be paid to the holders of these bonds for interest? (Note this is a calculation...
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