Homework Answers
Answer:
Cash Dividend declared = 198,500 * $0.70
Cash Dividend declared = $138,950
Stock Dividend Declared = 198,500 * 10% * $14
Stock Dividend Declared = $277,900
Total Dividend declared = $138,950 + $277,900
Total Dividend declared = $416,850
Retained Earnings, December 31, 2020 = Retained Earnings,
December 31, 2019 + Net Income – Dividend declared
Retained Earnings, December 31, 2020 = $318,500 + $283,000 -
$416,850
Retained Earnings, December 31, 2020 =
$184,650
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C ignment CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Exercise 14-09 Wildhorse Company reported retained earnings...
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Exercise 14-09 Oriole Company reported retained earnings at December 31, 2019, of $318,500. Oriole had 194,000 common Mock outstanding at the beginning of 2020. The following transactions occurred during 2020- 1. 2. 3. A cash dividend of 50.65 per share was declared and paid. A 10% stock dividend was declared and distributed when the market price Net Income was $285,000. Compute the ending balance in retained earnings at the end of 2020. Retained earnings Click if you would like to...
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CALCULATOR FULL SCREEN Exercise 14-08 On January 1, 2020, Crane Corporation had retained earnings of $531,000....
CALCULATOR FULL SCREEN Exercise 14-08 On January 1, 2020, Crane Corporation had retained earnings of $531,000. During the year, Crane had the following selected transactions 1. Declared cash dividends $111,000 2. Corrected overstatement of 2019 net income because of inventory error $35,500. 3. Eamed net income $340,500 4. Declared stock dividends $55,500 Determine the retained earnings balance at the end of the year. Retained earnings Click If you would like to show Work for this questions on Show Work LINK...
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Exercise 14-09 Sunland Company reported retained earnings at December 31, 2019, of $312,500. Sunland had 210,000 shares of common stock outstanding at the beginning of 2020. The following transactions occurred during 2020. 1. A cash dividend of $0.50 per share was declared and paid. 2. A 5% stock dividend was declared and distributed when the market price per share was $15 per share. 3. Net income was $282,000. Compute the ending balance in retained earnings at the end of 2020....
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CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Question 14 Swifty Corporation has 83,000 shares of common stock outstanding. It declares a $2 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31 Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Record journal entries lathe ander presented in the problem Credit account titles are automatically indented when amount is entered. Do...
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