On August 1, 2018, Towson Corp., declared a 5% stock dividend on its common stock when...
On August 1, 2018, Towson Corp., declared a 5% stock dividend on its common stock when the market value of the common stock was $20 per share. The balance in the common stock account, before the stock dividend was declared, was $900,000. The par value of all common stock is $10. What is the total dollar amount credited to additional paid in capital - common stock on August 1, 2018?
I need help ,I am stuck.
Homework Answers
calculate total dollar amount credited to additional paid in capital-Common Stock :
Share outstanding = 900000/10 = 90000
Additional paid in capital-Common Stock = 90000*5%*10 = $45000
Add Answer to:
On August 1, 2018, Towson Corp., declared a 5% stock dividend on
its common stock when...
Multiple Choice Question 99 On January 1, 2018, Sheffield Corp., dedared a 10% stock dividend on...
Multiple Choice Question 99 On January 1, 2018, Sheffield Corp., dedared a 10% stock dividend on its common stock when the fair value of the common stock was $32 per share. Stockholders' equity before the stock dividend was declared consisted of: Common stock, $10 par value, authorized 200,000 shares; Issued and outstanding 129000 shares $1290000 Additional paid in capital on common stock 149000 Retained earnings 659000 Total stockholders' equity $2098000 What was the effect on Sheffield's retained earnings as a...
5. On January 5, 20X9, Sardi Minerald Corp. declared a cash dividend of $600,000 to stockholders...
5. On January 5, 20X9, Sardi Minerald Corp. declared a cash dividend of $600,000 to stockholders of record on January 21, 20X9, and payable on February 11, 20X9. The dividend is permissible under the laws of Sardi's state of incorporation. The following data pertain to 20X8: Net income for year ended 12/31/X8 Additional paid-in capital Retained earnings, 12/31/X8 $190,000 675,000 425,000 The $600,000 dividend includes a liquidating dividend of $0 $175,000 $410,000 $485,000 fock а. b. 78 с. d. On...
On January 1, 2018, Marigold Corp. had 372000 shares of its $2 par value common stock...
On January 1, 2018, Marigold Corp. had 372000 shares of its $2 par value common stock outstanding. On March 1, Marigold sold an additional 750000 shares on the open market at $20 per share. Marigold issued a 20% stock dividend on May 1. On August 1, Marigold purchased 4120000 shares and immediately retired the stock. On November 1, 607000 shares were sold for $25 per share. What is the weighted-average number of shares outstanding for 2018? (Rounded to the nearest...
Towson Corp., had 4,000 shares of $100 par, 3% cumulative preferred stock as of January 1,...
Towson Corp., had 4,000 shares of $100 par, 3% cumulative preferred stock as of January 1, 2018. No additional shares of preferred stock were issued during fiscal years 2018 & 2019. Dividends were paid to common shareholders in 2017 but no shareholders were paid dividends in 2018. A total of $85,000 of dividends was paid in 2019. Use this information to determine the total dollar amount of dividends that was paid to common shareholders during fiscal year 2019.
Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10%...
Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Perry Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 30% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Prepare the necessary entries for the declaration and...
On October 15, 2018, a 5% stock dividend was declared and distributed. The fair value of...
On October 15, 2018, a 5% stock dividend was declared and distributed. The fair value of the common stock on this date was $32.4 per share. Fractional share rights represented 100,000 shares. Cash was paid in lieu of issuing fractional share rights. On the date of declaration and payment, the company had 10.4 million shares of common stock outstanding. The par of the common shares was $5. Required: Prepare any necessary Journal entry to record declaration and distribution of stock...
On January 2, 2018, Baltimore Company purchased 8,000 shares of the stock of Towson Company at...
On January 2, 2018, Baltimore Company purchased 8,000 shares of the stock of Towson Company at $15 per share. Baltimore did NOT obtain significant influence as the purchase represents a 5% ownership stake in Towson Company. On August 1, 2018, Towson Company paid cash dividends of $27,000. Baltimore Company intended this investment to a long-term investment. On December 31, 2018, Towson Company reported $65,000 of net income for FY 2018. Additionally, the current market price for Towson Company's stock increased...
On January 2, 2018, Baltimore Company purchased 20,000 shares of the stock of Towson Company at...
On January 2, 2018, Baltimore Company purchased 20,000 shares of the stock of Towson Company at $12 per share. Baltimore obtained significant influence as the purchase represents a 35% ownership stake in Towson Company. On August 1, 2018, Towson Company paid cash dividends of $27,000. Baltimore Company intended this investment to a long-term investment. On December 31, 2018, Towson Company reported $50,000 of net income for FY 2018. Additionally, the current market price for Towson Company's stock increased to $18...
On January 2, 2018, Baltimore Company purchased 5,000 shares of the stock of Towson Company at...
On January 2, 2018, Baltimore Company purchased 5,000 shares of the stock of Towson Company at $12 per share. Baltimore did NOT obtain significant influence as the purchase represents a 5% ownership stake in Towson Company. On August 1, 2018, Towson Company paid cash dividends of $27,000. Baltimore Company intended this investment to a long-term investment. On December 31, 2018, Towson Company reported $55,000 of net income for FY 2018. Additionally, the current market price for Towson Company's stock increased...
On January 2, 2018, Baltimore Company purchased 5,000 shares of the stock of Towson Company at...
On January 2, 2018, Baltimore Company purchased 5,000 shares of the stock of Towson Company at $11 per share. Baltimore did NOT obtain significant influence as the purchase represents a 15% ownership stake in Towson Company. On August 1, 2018, Towson Company paid cash dividends of $25,000. Baltimore Company intended this investment to a long-term investment. On December 31, 2018, Towson Company reported $70,000 of net income for FY 2018. Additionally, the current market price for Towson Company's stock increased...
Multiple Choice Question 99 On January 1, 2018, Sheffield Corp., dedared a 10% stock dividend on its common stock when the fair value of the common stock was $32 per share. Stockholders' equity before the stock dividend was declared consisted of: Common stock, $10 par value, authorized 200,000 shares; Issued and outstanding 129000 shares $1290000 Additional paid in capital on common stock 149000 Retained earnings 659000 Total stockholders' equity $2098000 What was the effect on Sheffield's retained earnings as a...
5. On January 5, 20X9, Sardi Minerald Corp. declared a cash dividend of $600,000 to stockholders of record on January 21, 20X9, and payable on February 11, 20X9. The dividend is permissible under the laws of Sardi's state of incorporation. The following data pertain to 20X8: Net income for year ended 12/31/X8 Additional paid-in capital Retained earnings, 12/31/X8 $190,000 675,000 425,000 The $600,000 dividend includes a liquidating dividend of $0 $175,000 $410,000 $485,000 fock а. b. 78 с. d. On...
On January 1, 2018, Marigold Corp. had 372000 shares of its $2 par value common stock outstanding. On March 1, Marigold sold an additional 750000 shares on the open market at $20 per share. Marigold issued a 20% stock dividend on May 1. On August 1, Marigold purchased 4120000 shares and immediately retired the stock. On November 1, 607000 shares were sold for $25 per share. What is the weighted-average number of shares outstanding for 2018? (Rounded to the nearest...
On October 15, 2018, a 5% stock dividend was declared and distributed. The fair value of the common stock on this date was $32.4 per share. Fractional share rights represented 100,000 shares. Cash was paid in lieu of issuing fractional share rights. On the date of declaration and payment, the company had 10.4 million shares of common stock outstanding. The par of the common shares was $5. Required: Prepare any necessary Journal entry to record declaration and distribution of stock...
Most questions answered within 3 hours.
-
Cranium, Inc., purchases term papers from an overseas supplier
under a continuous review system. The average...
asked 15 minutes ago -
1- What is the freezing point of pure water (in degrees
Celsius)?
2-
he molar mass...
asked 1 hour ago -
Determine the direction of the force that will act on the charge
in each of the...
asked 1 hour ago -
You purchase your daily coffee at the Chemist’s Coffeehouse and
have a choice of two cups:...
asked 3 hours ago -
Which of the following pairs of chemicals could be used to make
a buffer solution?
A.)...
asked 3 hours ago -
Problem 16-51 Sales
Activity Variance (LO 16-3)Odessa, Inc., reports the following
information concerning operations for the...
asked 4 hours ago -
Pictured on the right are thee point charges Q1 = 18.4 μC, Q2 =
-30.6 μC,...
asked 4 hours ago -
A graduate student is conducting research in psychology and
needs to obtain the IQ scores of...
asked 4 hours ago -
R2.84: There are 2 defective products in a production lot of 10.
An inspector randomly selected...
asked 6 hours ago -
Consider the following equilibrium system: COCl2(g) CO(g) +
Cl2(g) A 10.00 L evacuated flask is filled...
asked 6 hours ago -
1) What are the two distinct steps that one needs to perform
when developing a data...
asked 6 hours ago -
2) Write a C++ program that uses a class called “Degree” to
obtain the trigonometric
values...
asked 7 hours ago