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Question 3 The following account balances relate to the stockholders' equity accounts of Kerbs Corp. at year-end. 2020 2019 Common stock, 10,500 and 10,000 shares, respectively, for 2020 and 2019 Preferred stock, 5,000 shares Retained earnings $157,800 129,800 302,300 $130,700 129,800 248,000 A small stock dividend was declared and issued in 2020. The result of the stock dividend was to decrease retained earnings by $10,800 and increase common stock by $10,800. Cash dividends were $15,700 in both 2020 and 2019....
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Question 3 The following account balances relate to the stockholders' equity accounts of Kerbs Corp. at year-end. 2020 2019 Common stock, 10,500 and 10,000 shares, $157,800 $130,700 respectively, for 2020 and 2019 Preferred stock, 5,000 shares 129,800 129,800 Retained earnings 302,300 248,000 A small stock dividend was declared and issued in 2020. The result of the stock dividend was to decrease retained earnings by $10,800 and increase common stock by $10,800. Cash dividends were $15,700 in both 2020 and 2019....
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Question 3
The following account balances relate to the stockholders’ equity
accounts of Kerbs Corp. at year-end.
2020
2019
Common stock, 10,500 and 10,000 shares,
respectively, for 2020 and 2019
$157,600
$141,100
Preferred stock, 5,000 shares
106,000
106,000
Retained earnings
301,700
245,200
A small stock dividend was declared and issued in 2020. The result
of the stock dividend was to decrease retained earnings by $11,500
and increase common stock by $11,500. Cash dividends were $15,100
in both 2020 and 2019....
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The following account balances relate to the stockholders’
equity accounts of Kerbs Corp. at year-end.
2020
2019
Common stock, 10,500 and 10,000 shares,
respectively, for 2020 and 2019
$157,600
$141,100
Preferred stock, 5,000 shares
106,000
106,000
Retained earnings
301,700
245,200
A small stock dividend was declared and issued in 2020. The result
of the stock dividend was to decrease retained earnings by $11,500
and increase common stock by $11,500. Cash dividends were $15,100
in both 2020 and 2019. The common...
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Problem 12-02A The following account balances relate to the stockholders' equity accounts of Blue Spruce Corp. at year-end. 2022 2021 Common stock, 10,720 and 10,220 shares, respectively, for 2022 and 2021 Preferred stock, 5,010 shares Retained earnings $175,660 125,250 307,120 $154,860 125,250 244,240 A small stock dividend was declared and issued in 2022. The market price of the shares was $9,320. Cash dividends were $19,230 in both 2022 and 2021. The common stock has no par or stated value. x...
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The following account balances relate to the stockholders' equity accounts of Sheffield Corp. at year-end. 2017 2016 Common stock, 11, 110 and 10,610 shares, respectively, for 2017 and 2016 $153,650 $132,850 Preferred stock, 5,050 shares 136,350 136,350 Retained earnings 322,310 272,200 A small stock dividend was declared and issued in 2017. The market price of the shares was $7,920. Cash dividends were $19,970 in both 2017 and 2016. The common stock has no par or stated value x Your answer...
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Problem 12-02A The following account balances relate to the stockholders' equity accounts of Waterway Industries at year-end. 2022 2021 Common stock, 9,500 and 9,000 shares, respectively, for 2022 and 2021 Preferred stock, 4,680 shares Retained earnings $150,450 126,360 273,450 $129,650 126,360 284,100 A small stock dividend was declared and issued in 2022. The market price of the shares was $8,710. Cash dividends were $21,430 in both 2022 and 2021. The common stock has no par or stated value. What was...
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Problem 12-02A
The following account balances relate to the stockholders’ equity
accounts of Wildhorse Co. at year-end.
2022
2021
Common stock, 11,270 and 10,770 shares,
respectively, for 2022 and 2021
$151,610
$130,810
Preferred stock, 4,890 shares
117,360
117,360
Retained earnings
324,360
270,360
A small stock dividend was declared and issued in 2022. The market
price of the shares was $8,330. Cash dividends were $20,320 in both
2022 and 2021. The common stock has no par or stated value.
What was...
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Problem 13-2A (Part Level Submission) The following account balances relate to the stockholders' equity accounts of Kerbs Corp. at year-end. 2017 2016 Common stock, 10,500 and 10,000 shares, respectively, for 2017 and 2016 Preferred stock, 5,000 shares Retained earnings $159,000 $135,100 119,600 119,600 99,500 253,100 A small stock dividend was declared and issued in 2017. The market value of the shares was $10,700. Cash dividends were $15,000 in both 2017 and 2016. The common stock has no par or stated...
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ATOR PRINTER VERSION BACK NEXT Exercise 14-02-(Part Level Submission) Sheridan Corporation was organized on January 1, 2019. During its first year, the corporation sued 2,100 shares of $50 par value preferred stock and 107,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2019, $5,000, 2020, $13,500; and 2021, $27,000. (a) Your answer is correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6%...
Question 3 The following account balances relate to the stockholders' equity accounts of Kerbs Corp. at year-end. 2020 2019 Common stock, 10,500 and 10,000 shares, respectively, for 2020 and 2019 Preferred stock, 5,000 shares Retained earnings $157,800 129,800 302,300 $130,700 129,800 248,000 A small stock dividend was declared and issued in 2020. The result of the stock dividend was to decrease retained earnings by $10,800 and increase common stock by $10,800. Cash dividends were $15,700 in both 2020 and 2019....
Question 3 The following account balances relate to the stockholders' equity accounts of Kerbs Corp. at year-end. 2020 2019 Common stock, 10,500 and 10,000 shares, $157,800 $130,700 respectively, for 2020 and 2019 Preferred stock, 5,000 shares 129,800 129,800 Retained earnings 302,300 248,000 A small stock dividend was declared and issued in 2020. The result of the stock dividend was to decrease retained earnings by $10,800 and increase common stock by $10,800. Cash dividends were $15,700 in both 2020 and 2019....
Question 3
The following account balances relate to the stockholders’ equity
accounts of Kerbs Corp. at year-end.
2020
2019
Common stock, 10,500 and 10,000 shares,
respectively, for 2020 and 2019
$157,600
$141,100
Preferred stock, 5,000 shares
106,000
106,000
Retained earnings
301,700
245,200
A small stock dividend was declared and issued in 2020. The result
of the stock dividend was to decrease retained earnings by $11,500
and increase common stock by $11,500. Cash dividends were $15,100
in both 2020 and 2019....
The following account balances relate to the stockholders’
equity accounts of Kerbs Corp. at year-end.
2020
2019
Common stock, 10,500 and 10,000 shares,
respectively, for 2020 and 2019
$157,600
$141,100
Preferred stock, 5,000 shares
106,000
106,000
Retained earnings
301,700
245,200
A small stock dividend was declared and issued in 2020. The result
of the stock dividend was to decrease retained earnings by $11,500
and increase common stock by $11,500. Cash dividends were $15,100
in both 2020 and 2019. The common...
Problem 12-02A The following account balances relate to the stockholders' equity accounts of Blue Spruce Corp. at year-end. 2022 2021 Common stock, 10,720 and 10,220 shares, respectively, for 2022 and 2021 Preferred stock, 5,010 shares Retained earnings $175,660 125,250 307,120 $154,860 125,250 244,240 A small stock dividend was declared and issued in 2022. The market price of the shares was $9,320. Cash dividends were $19,230 in both 2022 and 2021. The common stock has no par or stated value. x...
The following account balances relate to the stockholders' equity accounts of Sheffield Corp. at year-end. 2017 2016 Common stock, 11, 110 and 10,610 shares, respectively, for 2017 and 2016 $153,650 $132,850 Preferred stock, 5,050 shares 136,350 136,350 Retained earnings 322,310 272,200 A small stock dividend was declared and issued in 2017. The market price of the shares was $7,920. Cash dividends were $19,970 in both 2017 and 2016. The common stock has no par or stated value x Your answer...
Problem 12-02A The following account balances relate to the stockholders' equity accounts of Waterway Industries at year-end. 2022 2021 Common stock, 9,500 and 9,000 shares, respectively, for 2022 and 2021 Preferred stock, 4,680 shares Retained earnings $150,450 126,360 273,450 $129,650 126,360 284,100 A small stock dividend was declared and issued in 2022. The market price of the shares was $8,710. Cash dividends were $21,430 in both 2022 and 2021. The common stock has no par or stated value. What was...
Problem 12-02A
The following account balances relate to the stockholders’ equity
accounts of Wildhorse Co. at year-end.
2022
2021
Common stock, 11,270 and 10,770 shares,
respectively, for 2022 and 2021
$151,610
$130,810
Preferred stock, 4,890 shares
117,360
117,360
Retained earnings
324,360
270,360
A small stock dividend was declared and issued in 2022. The market
price of the shares was $8,330. Cash dividends were $20,320 in both
2022 and 2021. The common stock has no par or stated value.
What was...
Problem 13-2A (Part Level Submission) The following account balances relate to the stockholders' equity accounts of Kerbs Corp. at year-end. 2017 2016 Common stock, 10,500 and 10,000 shares, respectively, for 2017 and 2016 Preferred stock, 5,000 shares Retained earnings $159,000 $135,100 119,600 119,600 99,500 253,100 A small stock dividend was declared and issued in 2017. The market value of the shares was $10,700. Cash dividends were $15,000 in both 2017 and 2016. The common stock has no par or stated...
ATOR PRINTER VERSION BACK NEXT Exercise 14-02-(Part Level Submission) Sheridan Corporation was organized on January 1, 2019. During its first year, the corporation sued 2,100 shares of $50 par value preferred stock and 107,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2019, $5,000, 2020, $13,500; and 2021, $27,000. (a) Your answer is correct. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 6%...