Homework Answers
Answer) Option D - Retained Earnings
When a stock dividend is declared and distributed, Retained Earnings is debited (Decreased) and Contributed Capital is credited (Increased).
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14. If a corporation declares and distributes a 10% stock dividend on its common shares, the...
Cheyenne Corporation has outstanding 358,000 shares of $10 par value common stock. The corporation declares a...
Cheyenne Corporation has outstanding 358,000 shares of $10 par value common stock. The corporation declares a 100% stock dividend when the fair value of the stock is $62 per share. Prepare the journal entries for both the date of declaration and the date of distribution. (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 o for the amounts.) Cheyenne Corporation has...
Beacon Corporation issued a 4 percent stock dividend on 30,500 shares of its $9 par common...
Beacon Corporation issued a 4 percent stock dividend on 30,500 shares of its $9 par common stock. At the time of the dividend, the market value of the stock was $24 per share. Required c. Prepare the journal entry to record the stock dividend. (If no entry is required for a transaction/event, select journal entry required" in the first account field.) Answer is not complete. No Event General Journal Credit Debit 18,300 Common stock 10,980 Weaver Corporation had the following...
A company originally issued 14,000 shares of $10 par value common stock at $11 per share....
A company originally issued 14,000 shares of $10 par value common stock at $11 per share. The board of directors declares a 15% stock dividend when the market price of the stock is $19 a share. Which of the following is included in the entry CC record the declaration of a stock dividend? co nt. ac O A. Stock Dividends is debited for $39,900. O B. Paid-In Capital in Excess of Par Common is credited for $23,100 O C. Stock...
1) The number of shares of stock a corporation sells to investors are a. Authorizes shares...
1) The number of shares of stock a corporation sells to investors are a. Authorizes shares b. Issued shares c. Treasury shares d. Outstanding shares 2) A corporation issued 20 shares of common stock with $1 par value for $5 per share. The amount of cash the company generated By issuing the common stock was a. $5 b. $20 c. $80 d. $100 3) The declaration of a cash dividend a. Increases cash b. Decreases cash c. Increase retained earnings...
1) The number of shares of stock a corporation sells to investors are a) Authorized shares...
1) The number of shares of stock a corporation sells to investors are a) Authorized shares b) Issued shared c) Treasury shares d) Outstanding shares 2) A corporation issued 20 shares of common stock with a $ 1 par value for $5 per share. The amount of cash the company generated by issuing the common stock was a) $5 b) $20 c) $80 d) $100 3) The declaration of a cash dividend A) Increases cash b) Decreases cash c) Increases...
Stock Dividend Augusta Corporation reported the following information: 35,000 shares of $3 par value common stock...
Stock Dividend Augusta Corporation reported the following information: 35,000 shares of $3 par value common stock authorized, 30,000 shares common stock issued, 10,000 shares treasury stock. Required: 1. What is the appropriate journal entry to record a 5% stock dividend if the market price of the common stock is $40 per share when the dividend is declared? Retained Earnings Common Stock Additional Paid-In Capital-Common Stock Feedback 1. Small stock dividends are capitalized using the stock's market value, while large stock...
Cash and Stock Dividends Debra Corporation has 24,000 shares of $1 par value common stock outstanding....
Cash and Stock Dividends Debra Corporation has 24,000 shares of $1 par value common stock outstanding. The company has $200,000 of retained earnings. At year-end, the company declares a cash dividend of $2.00 per share and a five percent stock dividend. The market price of the stock at the declaration date is $24 per share. Three weeks later, the company pays the dividends. a. Prepare the journal entry for the declaration of the cash dividend. b. Prepare the journal entry...
Eastline Corporation had 10,000 shares of $10 per value common stock directors declared a 15% stock...
Eastline Corporation had 10,000 shares of $10 per value common stock directors declared a 15% stock dividend to its shareholders. At the time of the stock videod, the m ning when the board value per share was $12. The try to record e is dividend is Required: A What number of shares will be issued as a divend B. Using the account named "Stock Dividend Distributable prepare the journal entry to report the dividend on the declaration date. 8. A...
Sheridan Corporation has outstanding 363,000 shares of $10 par value common stock. The corporation declares a...
Sheridan Corporation has outstanding 363,000 shares of $10 par value common stock. The corporation declares a 5% stock dividend when the fair value of the stock is $71 per share. Prepare the journal entries for Sheridan Corporation for both the date of declaration and the date of distribution. (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 O for the amounts.)...
A corporation issued 240 shares of its $5 par value common stock in payment of a...
A corporation issued 240 shares of its $5 par value common stock in payment of a $3.200 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include: Save & E Murile Choice A$200 C A 1200 Organogenes A $2.000 credit to Paid in Capital Escess of Par Valve Common Stock A $1.200 biso Legal Expenses A $1.200 credit to Common Stock Fetzer Company declared a $0.35 per share cash...
Cheyenne Corporation has outstanding 358,000 shares of $10 par value common stock. The corporation declares a 100% stock dividend when the fair value of the stock is $62 per share. Prepare the journal entries for both the date of declaration and the date of distribution. (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 o for the amounts.) Cheyenne Corporation has...
Beacon Corporation issued a 4 percent stock dividend on 30,500 shares of its $9 par common stock. At the time of the dividend, the market value of the stock was $24 per share. Required c. Prepare the journal entry to record the stock dividend. (If no entry is required for a transaction/event, select journal entry required" in the first account field.) Answer is not complete. No Event General Journal Credit Debit 18,300 Common stock 10,980 Weaver Corporation had the following...
A company originally issued 14,000 shares of $10 par value common stock at $11 per share. The board of directors declares a 15% stock dividend when the market price of the stock is $19 a share. Which of the following is included in the entry CC record the declaration of a stock dividend? co nt. ac O A. Stock Dividends is debited for $39,900. O B. Paid-In Capital in Excess of Par Common is credited for $23,100 O C. Stock...
Cash and Stock Dividends Debra Corporation has 24,000 shares of $1 par value common stock outstanding. The company has $200,000 of retained earnings. At year-end, the company declares a cash dividend of $2.00 per share and a five percent stock dividend. The market price of the stock at the declaration date is $24 per share. Three weeks later, the company pays the dividends. a. Prepare the journal entry for the declaration of the cash dividend. b. Prepare the journal entry...
Eastline Corporation had 10,000 shares of $10 per value common stock directors declared a 15% stock dividend to its shareholders. At the time of the stock videod, the m ning when the board value per share was $12. The try to record e is dividend is Required: A What number of shares will be issued as a divend B. Using the account named "Stock Dividend Distributable prepare the journal entry to report the dividend on the declaration date. 8. A...
Sheridan Corporation has outstanding 363,000 shares of $10 par value common stock. The corporation declares a 5% stock dividend when the fair value of the stock is $71 per share. Prepare the journal entries for Sheridan Corporation for both the date of declaration and the date of distribution. (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 O for the amounts.)...
A corporation issued 240 shares of its $5 par value common stock in payment of a $3.200 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include: Save & E Murile Choice A$200 C A 1200 Organogenes A $2.000 credit to Paid in Capital Escess of Par Valve Common Stock A $1.200 biso Legal Expenses A $1.200 credit to Common Stock Fetzer Company declared a $0.35 per share cash...
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