Homework Answers
| Ques no. | Accounts | debit | crredit |
| a | Retained earnings | 98910 | |
| (47100*0.05*42) | |||
| Common stock dividends distributable | 23550 | ||
| (47100*0.05*10) | |||
| Paid in capital in excess of par-common stock | 75360 | ||
| Common stock dividends distributable | 23550 | ||
| Common stock | 23550 | ||
| b | No entry | ||
| (no effect) | |||
| c | |||
| Jan-05 | Debt investments | 32000 | |
| Unrealised holding gain or loss-I/S | 32000 | ||
| (130000-98000) | |||
| Retained earnings | 130000 | ||
| Property dividends payable | 130000 | ||
| Jan-25 | Property dividends payable | 130000 | |
| Debt investments | 130000 |
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Exercise 15-15 The following data were taken from the balance sheet accounts of Oriole Corporation on...
Exercise 15-15 The following data were taken from the balance sheet accounts of Grouper Corporation on...
Exercise 15-15 The following data were taken from the balance sheet accounts of Grouper Corporation on December 31, 2019. Current assets Debt investments (trading) Common stock (par value $10) Paid-in capital in excess of par Retained earnings $492,000 610,000 462,000 163,000 828,000 Prepare the required journal entries for the following unrelated items. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter...
Exercise 15-15 The following data were taken from the balance sheet accounts of Marin Corporation on...
Exercise 15-15
The following data were taken from the balance sheet accounts of
Marin Corporation on December 31, 2019.
Current assets
$541,000
Debt investments (trading)
622,000
Common stock (par value $10)
508,000
Paid-in capital in excess of par
143,000
Retained earnings
781,000
Prepare the required journal entries for the following unrelated
items. (Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles and
enter...
The following data were taken from the balance sheet accounts of Waterway Corporation on De 31,...
The following data were taken from the balance sheet accounts of Waterway Corporation on De 31, 2016 $578,000 686,000 454,000 152,000 847,000 Current assets Debt investments Common stock (par value $10) Paid-in capital in excess of par Retained earnings Prepare the required journal entries for the following unrelated items. (Credit account titles a automatically indented when amount is entered. Do not indent manually. If no entry i required, select "No Entry" for the account titles and enter O for the...
Question 15 Oriole Corporation was organized on January 1, 2019. During its first year, the corporation...
Question 15
Oriole Corporation was organized on January 1, 2019. During its
first year, the corporation issued 2,100 shares of $50 par value
preferred stock and 100,000 shares of $10 par value common stock.
At December 31, the company declared the following cash dividends:
2019, $6,350; 2020, $14,500; and 2021, $29,000.
Show the allocation of dividends to each class of stock,
assuming the preferred stock dividend is 7% and
noncumulative.
2019
2020
2021
Allocation to preferred stock
$
$
$...
Question 15 Oriole Corporation was organized on January 1, 2019. During its first year, the corporation...
Question 15 Oriole Corporation was organized on January 1, 2019. During its first year, the corporation issued 2,100 shares of $50 par value preferred stock and 100,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2019, $6,350; 2020, $14,500; and 2021, $29,000. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and noncumulative. 2019 2020 2021 Allocation to preferred stock Allocation to common...
Problem 14-01A a-c (Video) On January 1, 2020, Oriole Corporation had the following stockholders' equity accounts....
Problem 14-01A a-c (Video) On January 1, 2020, Oriole Corporation had the following stockholders' equity accounts. Common Stock ($26 par value, 52,500 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,365,000 191,000 579,000 During the year, the following transactions occurred. Feb. 1 Declared a $2 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split. Prior...
E15.15B (L0 3) (Dividend Entries) The following data were taken from the balance sheet accounts of...
E15.15B (L0 3) (Dividend Entries) The following data were taken from the balance sheet accounts of Symbol Two Corporation on June 30, 2019: Current assets $125,000 Investments 365,000 Common stock (par value $1) 70,000 Paid-in capital in excess of par 680,000 Retained earnings 963,000 Instructions Prepare the required journal entries for the following unrelated items: (a) The par value of the capital stock is reduced to $0.50 with a 2-for-1 stock split. (b) A 10% stock dividend is declared and...
dates On January 1, 2020, Oriole Corporation had the following stockholders' equity accounts. Support ins Common...
dates On January 1, 2020, Oriole Corporation had the following stockholders' equity accounts. Support ins Common Stock ($26 par value. 50,000 shares issued and outstanding) $1,300,000 Paid-in Capital in Excess of Par-Common Stock 199,000 Retained Earnings 558,000 ver During the year, the following transactions occurred. Declared a $2 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. wat Paid the dividend declared in February Apr. Announced a 2-for-1 stock split. Prior to the split,...
Exercise 14-02 a-c Oriole Corporation was organized on January 1, 2019. During its first year, the...
Exercise 14-02 a-c
Oriole Corporation was organized on January 1, 2019. During its
first year, the corporation issued 1,900 shares of $50 par value
preferred stock and 101,000 shares of $10 par value common stock.
At December 31, the company declared the following cash dividends:
2019, $5,550; 2020, $14,500; and 2021, $29,000.
Show the allocation of dividends to each class of stock,
assuming the preferred stock dividend is 7% and
noncumulative.
2019
2020
2021
Allocation to preferred stock
$
$...
Exercise 15-14 The stockholders' equity accounts of Sheffield Company have the following balances on December 31,...
Exercise 15-14 The stockholders' equity accounts of Sheffield Company have the following balances on December 31, 2020. Common stock, $10 par, 312,000 shares issued and outstanding Paid-in capital in excess of par-common stock Retained earnings $3,120,000 1,160,000 5,340,000 Shares of Sheffield Company stock are currently selling on the Midwest Stock Exchange at $37. Prepare the appropriate journal entries for each of the following cases. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no...
Exercise 15-15 The following data were taken from the balance sheet accounts of Grouper Corporation on December 31, 2019. Current assets Debt investments (trading) Common stock (par value $10) Paid-in capital in excess of par Retained earnings $492,000 610,000 462,000 163,000 828,000 Prepare the required journal entries for the following unrelated items. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter...
Exercise 15-15
The following data were taken from the balance sheet accounts of
Marin Corporation on December 31, 2019.
Current assets
$541,000
Debt investments (trading)
622,000
Common stock (par value $10)
508,000
Paid-in capital in excess of par
143,000
Retained earnings
781,000
Prepare the required journal entries for the following unrelated
items. (Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no
entry is required, select "No Entry" for the account titles and
enter...
The following data were taken from the balance sheet accounts of Waterway Corporation on De 31, 2016 $578,000 686,000 454,000 152,000 847,000 Current assets Debt investments Common stock (par value $10) Paid-in capital in excess of par Retained earnings Prepare the required journal entries for the following unrelated items. (Credit account titles a automatically indented when amount is entered. Do not indent manually. If no entry i required, select "No Entry" for the account titles and enter O for the...
Question 15
Oriole Corporation was organized on January 1, 2019. During its
first year, the corporation issued 2,100 shares of $50 par value
preferred stock and 100,000 shares of $10 par value common stock.
At December 31, the company declared the following cash dividends:
2019, $6,350; 2020, $14,500; and 2021, $29,000.
Show the allocation of dividends to each class of stock,
assuming the preferred stock dividend is 7% and
noncumulative.
2019
2020
2021
Allocation to preferred stock
$
$
$...
Question 15 Oriole Corporation was organized on January 1, 2019. During its first year, the corporation issued 2,100 shares of $50 par value preferred stock and 100,000 shares of $10 par value common stock. At December 31, the company declared the following cash dividends: 2019, $6,350; 2020, $14,500; and 2021, $29,000. Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 7% and noncumulative. 2019 2020 2021 Allocation to preferred stock Allocation to common...
Problem 14-01A a-c (Video) On January 1, 2020, Oriole Corporation had the following stockholders' equity accounts. Common Stock ($26 par value, 52,500 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,365,000 191,000 579,000 During the year, the following transactions occurred. Feb. 1 Declared a $2 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split. Prior...
dates On January 1, 2020, Oriole Corporation had the following stockholders' equity accounts. Support ins Common Stock ($26 par value. 50,000 shares issued and outstanding) $1,300,000 Paid-in Capital in Excess of Par-Common Stock 199,000 Retained Earnings 558,000 ver During the year, the following transactions occurred. Declared a $2 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. wat Paid the dividend declared in February Apr. Announced a 2-for-1 stock split. Prior to the split,...
Exercise 14-02 a-c
Oriole Corporation was organized on January 1, 2019. During its
first year, the corporation issued 1,900 shares of $50 par value
preferred stock and 101,000 shares of $10 par value common stock.
At December 31, the company declared the following cash dividends:
2019, $5,550; 2020, $14,500; and 2021, $29,000.
Show the allocation of dividends to each class of stock,
assuming the preferred stock dividend is 7% and
noncumulative.
2019
2020
2021
Allocation to preferred stock
$
$...
Exercise 15-14 The stockholders' equity accounts of Sheffield Company have the following balances on December 31, 2020. Common stock, $10 par, 312,000 shares issued and outstanding Paid-in capital in excess of par-common stock Retained earnings $3,120,000 1,160,000 5,340,000 Shares of Sheffield Company stock are currently selling on the Midwest Stock Exchange at $37. Prepare the appropriate journal entries for each of the following cases. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no...
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