-
gnment CALCULATOR FULL SCREEN PRINTER VERSION BACK Questions On January 1, Brambie Corporation had 92000 shares of $10 par value common stock outstanding. On June 17, the company declared a 10 Market value of the stock was $13 on June 17. The entry to record the transaction of June 17 would include a stock dividend to stockholders of record on June 20 debit to Stock Dividends for $119600 credit to Common Stock Dividends Distributable for $110600 O credit to Common...
-
Odessa Corporation had 20,000 shares of $2 par value common
stock outstanding on July 1. On that day, the board of directors
declared a 10% stock dividend when the market value of each share
was $9. The stock dividend is to be distributed on July 20 to
stockholders of record on July 10. The entry to record the dividend
declaration is:
a) Debit Retained Earnings $18,000; credit Common Stock
Dividends Distributable $4,000; credit Paid-In Capital in Excess of
Par Value,...
-
Eastline Corporation had 14,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 5,320 shares. At the time of the stock dividend, the market value per share was $20. The entry to record this dividend is: Multiple Cholce No entry Is needed. Debit Retained Earnings $106,400; credit Common Stock DIvidend Distributable $106.40o. Deblt Retalned Earnings $106,400; credit Common Stock DIvidend Distributable $53,200; credit Pald-In Capltal in Excess of Par Value, Common...
-
Odessa Corporation had 20,000 shares
of $2 par value common stock outstanding on July 1. On that day,
the board of directors declared a 10% stock dividend when the
market value of each share was $9. The stock dividend is to be
distributed on July 20 to stockholders of record on July 10. The
entry to record the dividend declaration is:
No entry is made until the stock is
issued.
Debit retained Earnings $18,000;
credit Common Stock Dividends Distributable $4,000;...
-
Multiple Choice Question 57
Swifty, Inc., has 9100 shares of 3%, $100 par value, noncumulative
preferred stock and 72800 shares of $1 par value common stock
outstanding at December 31, 2020. There were no dividends declared
in 2019. The board of directors declares and pays a $120600
dividend in 2020. What is the amount of dividends received by the
common stockholders in 2020?
$9100
$27300
$93300
$0
Click if you would like to
Show Work for this question:
Open Show...
-
nt Exercise 14-1 (Essay) On January 1, Guilen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred Apr. 1 Issued 25,000 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. uly 10 Paid the $1 cash dividend. Dec. 1 1ssued 2,000 additional shares of common...
-
On January 1, 2017, Monty Corp. had these stockholders equity accounts. Common Stock ($10 par value, 75,000 shares issued and outstanding) $750,000 523,000 620,000 Paid-in Capital in Excess of Par Value Retained Earnings During the year, the following transactions occurred. Jan. 15 Declared a $0.60 cash dividend per share Feb. 15 Paid the dividend dedlared in January Apr. 15 Declared a May 15 Issued the shares for the stock dividend. Dec 1 Declared a $o.50 per share cash dividend to...
-
On January 1, 2018, Accustart Corporation had 72,000 common shares, recorded at $660,000, and retained earnings of $1,050,000. During the year, the following transactions occurred: Apr. 2 Issued 5,000 common shares at $20 per share. June 15 Declared a cash dividend of $0.35 per share to common shareholders of record on June 30, payable on July 10. Aug. 21 Declared a 5% stock dividend to common shareholders of record on September 5, distributable on September 20. The shares were trading...
-
Question 10 On January 1, 2017, Pronghorn Corporation granted 2,000 shares of restricted $5 par value common stock to executives. The market price (fair value) of the stock is 562 per share on the date of grant. The period of benefit is 2 years. Prepare Pronghor's journal entries for January 1, 2017, and December 31, 2017 and 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry"...
-
30. At the beginning of 2010. Jill Corporation had 34,000 shares of $10 par value common stock issued and outstanding. During January 2010, James Corporation declared and distributed a 10% stock dividend. The market value of the stock was $24 during the month of January. The entry to be recorded for the declaration of the stock dividend is: a. DR Stock Dividends $81,600 CR Common Stock Distributable $34,000 CR Paid in Capital in excess of par $47,600 b. DR Common...
gnment CALCULATOR FULL SCREEN PRINTER VERSION BACK Questions On January 1, Brambie Corporation had 92000 shares of $10 par value common stock outstanding. On June 17, the company declared a 10 Market value of the stock was $13 on June 17. The entry to record the transaction of June 17 would include a stock dividend to stockholders of record on June 20 debit to Stock Dividends for $119600 credit to Common Stock Dividends Distributable for $110600 O credit to Common...
Eastline Corporation had 14,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 5,320 shares. At the time of the stock dividend, the market value per share was $20. The entry to record this dividend is: Multiple Cholce No entry Is needed. Debit Retained Earnings $106,400; credit Common Stock DIvidend Distributable $106.40o. Deblt Retalned Earnings $106,400; credit Common Stock DIvidend Distributable $53,200; credit Pald-In Capltal in Excess of Par Value, Common...
Multiple Choice Question 57
Swifty, Inc., has 9100 shares of 3%, $100 par value, noncumulative
preferred stock and 72800 shares of $1 par value common stock
outstanding at December 31, 2020. There were no dividends declared
in 2019. The board of directors declares and pays a $120600
dividend in 2020. What is the amount of dividends received by the
common stockholders in 2020?
$9100
$27300
$93300
$0
Click if you would like to
Show Work for this question:
Open Show...
nt Exercise 14-1 (Essay) On January 1, Guilen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred Apr. 1 Issued 25,000 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. uly 10 Paid the $1 cash dividend. Dec. 1 1ssued 2,000 additional shares of common...
On January 1, 2017, Monty Corp. had these stockholders equity accounts. Common Stock ($10 par value, 75,000 shares issued and outstanding) $750,000 523,000 620,000 Paid-in Capital in Excess of Par Value Retained Earnings During the year, the following transactions occurred. Jan. 15 Declared a $0.60 cash dividend per share Feb. 15 Paid the dividend dedlared in January Apr. 15 Declared a May 15 Issued the shares for the stock dividend. Dec 1 Declared a $o.50 per share cash dividend to...
On January 1, 2018, Accustart Corporation had 72,000 common shares, recorded at $660,000, and retained earnings of $1,050,000. During the year, the following transactions occurred: Apr. 2 Issued 5,000 common shares at $20 per share. June 15 Declared a cash dividend of $0.35 per share to common shareholders of record on June 30, payable on July 10. Aug. 21 Declared a 5% stock dividend to common shareholders of record on September 5, distributable on September 20. The shares were trading...
Question 10 On January 1, 2017, Pronghorn Corporation granted 2,000 shares of restricted $5 par value common stock to executives. The market price (fair value) of the stock is 562 per share on the date of grant. The period of benefit is 2 years. Prepare Pronghor's journal entries for January 1, 2017, and December 31, 2017 and 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry"...
30. At the beginning of 2010. Jill Corporation had 34,000 shares of $10 par value common stock issued and outstanding. During January 2010, James Corporation declared and distributed a 10% stock dividend. The market value of the stock was $24 during the month of January. The entry to be recorded for the declaration of the stock dividend is: a. DR Stock Dividends $81,600 CR Common Stock Distributable $34,000 CR Paid in Capital in excess of par $47,600 b. DR Common...