Hi,
Kindly note that the common stock outstanding of 250,000 has been assumed to be number of shares.
PLEASE I NEED HELP ASAP !!!!! :(:(
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Entries for Cash Dividends The declaration, record, and payment dates in connection with a cash dividend of $62,000 on a corporation's common stock are July 9, August 31, and October 1. Journalize the entries required on each date. blank If no entry is required, select "No Entry Required" and leave the amount boxes blank. If an amount box does not require an entry, leave July 9 Aug. 31...
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Entries for Issuing Par Stock On January 22, Jefferson County Rocks Inc., a marble contractor, issued for cash 35,000 shares of $10 par common stock at $34, and on February 27, it issued for cash 120,000 shares of preferred stock, $4 par at $7. a. Journalize the entries for January 22 and February 27. If an amount box does not require an entry, leave it blank. Jan. 22...
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Earnings per share Financial statement data for the years 2015 and 20Y6 for Black Bull Inc. follow: 20Y5 2016 Net income $1,366,000 $50,000 Preferred dividends $2,654,000 $50,000 120,000 shares Average number of common shares outstanding 70,000 shares a. Determine the earnings per share for 20Y5 and 20Y6. Round to two decimal places. 2015 2016 Earnings per Share b. Is the change in the earnings per share from 2095...
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Entries for Issuing Stock On January 22, Muir Corporation issued for cash 28,000 shares of no-par common stock at $35. On February 14, Muir issued at par value 4,000 shares of preferred 3% stock, $60 par for cash. On August 30, Muir issued for cash 13,000 shares of preferred 3% stock, $60 par at $65. Journalize the entries to record the January 22, February 14, and August 30...
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Entries for Issuing No-Par Stock On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 270,000 shares of no-par common stock (with a stated value of $5) at $15, and on June 30, it issued for cash 15,000 shares of preferred stock, $60 par at $67. a. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with...
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Dividends Per Share Oceanic Company has 15,000 shares of cumulative preferred 1% stock, $150 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends: 20Y1 $45,000 20Y2 18,000 67,500 20Y3 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter 'O'. Preferred Stock (dividends per share)...
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Adjustments to net income-indirect method Lighthouse Corporation's accumulated depreciation-equipment account increased by $17,595 while $3,400 of patent amortization was recognized between balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a gain of $21,910 from the sale of investments. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet,...
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Effect of stock split Willey's Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Willey's Grill & Restaurant, which had 325,000 shares of common stock outstanding, declared a 3-for-1 stock split. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet a. What will be the...
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Treasury Stock Transactions Mystic Lake Inc. bottles and distributes spring water. On July 9 of the current year, Mystic Lake reacquired 5,000 shares of its common stock at $64 per share. On September 22, Mystic Lake sold 3,500 of the reacquired shares at $69 per share. The remaining 1,500 shares were sold at $61 per share on November 23. a. Journalize the transactions of July 9, September 22,...