Homework Answers
| Date | Account titles and explanation | Debit | Credit |
| Nov. 1 | Cash Dividends(7,700 * $5) | $38,500 | |
| Dividends Payable | $38,500 | ||
| Dec. 31 | Dividends Payable | $38,500 | |
| Cash | $38,500 |
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ASSIG RESOu Brief Exercise 11-5 Grouper Corp. has 7,700 shares of common stock outstanding Prepare the...
Cheyenne Corp. has 7,500 shares of common stock outstanding. It declares a $4 per share cash...
Cheyenne Corp. has 7,500 shares of common stock outstanding. It declares a $4 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required,...
Brief Exercise 11-8 Langley Corporation has 48,600 shares of $10 par value common stock outstanding. It...
Brief Exercise 11-8
Langley Corporation has 48,600 shares of $10 par value common
stock outstanding. It declares a 10% stock dividend on December 1
when the market price per share is $17. The dividend shares are
issued on December 31.
Prepare the entries for the declaration and payment of the stock
dividend. (Record journal entries in the order
presented in the problem. Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no
entry is...
Bridgeport Corp. has 7.400 shares of common stock outstanding It declares a $5 per share cash...
Bridgeport Corp. has 7.400 shares of common stock outstanding It declares a $5 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31 Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend (Credit account titles ave automoticaly indented when amount is entered Do net indent manualy Record journal entries in the order presented in the problem If no entry is required,...
Brief Exercise 14-03 Concord Corporation has 41,500 shares of $12 par value common stock outstanding. It...
Brief Exercise 14-03 Concord Corporation has 41,500 shares of $12 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $18. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is...
Splish Brothers Inc. has 71,000 shares of common stock outstanding. It declares a $2 per share...
Splish Brothers Inc. has 71,000 shares of common stock outstanding. It declares a $2 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is...
Question 14 Bramble Corporation has 88,000 shares of common stock outstanding. It declares a $2 per...
Question 14 Bramble Corporation has 88,000 shares of common stock outstanding. It declares a $2 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If ne entry...
Brief Exercise 15-14 Sheffield Corporation has outstanding 323,000 shares of $10 par value common stock. The...
Brief Exercise 15-14
Sheffield Corporation has outstanding 323,000 shares of $10 par
value common stock. The corporation declares a 100% stock dividend
when the fair value of the stock is $67 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 0 for the amounts.)...
Brief Exercise 15-13 Tamarisk Corporation has outstanding 446,000 shares of $10 par value common stock. The...
Brief Exercise 15-13
Tamarisk Corporation has outstanding 446,000 shares of $10 par
value common stock. The corporation declares a 5% stock dividend
when the fair value of the stock is $66 per share.
Prepare the journal entries for Tamarisk 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 0...
Brief Exercise 15-14 Flounder Corporation has outstanding 444,000 shares of $10 par value common stock. The...
Brief Exercise 15-14 Flounder Corporation has outstanding 444,000 shares of $10 par value common stock. The corporation declares a 100% stock dividend when the fair value of the stock is $67 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.)...
Brief Exercise 15-14 Pearl Corporation has outstanding 394,000 shares of $10 par value common stock. The...
Brief Exercise 15-14 Pearl Corporation has outstanding 394,000 shares of $10 par value common stock. The corporation declares a 100% stock dividend when the fair value of the stock is $71 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 Corp. has 7,500 shares of common stock outstanding. It declares a $4 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required,...
Brief Exercise 11-8
Langley Corporation has 48,600 shares of $10 par value common
stock outstanding. It declares a 10% stock dividend on December 1
when the market price per share is $17. The dividend shares are
issued on December 31.
Prepare the entries for the declaration and payment of the stock
dividend. (Record journal entries in the order
presented in the problem. Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no
entry is...
Bridgeport Corp. has 7.400 shares of common stock outstanding It declares a $5 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31 Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend (Credit account titles ave automoticaly indented when amount is entered Do net indent manualy Record journal entries in the order presented in the problem If no entry is required,...
Brief Exercise 14-03 Concord Corporation has 41,500 shares of $12 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $18. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is...
Splish Brothers Inc. has 71,000 shares of common stock outstanding. It declares a $2 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is...
Question 14 Bramble Corporation has 88,000 shares of common stock outstanding. It declares a $2 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If ne entry...
Brief Exercise 15-14
Sheffield Corporation has outstanding 323,000 shares of $10 par
value common stock. The corporation declares a 100% stock dividend
when the fair value of the stock is $67 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 0 for the amounts.)...
Brief Exercise 15-13
Tamarisk Corporation has outstanding 446,000 shares of $10 par
value common stock. The corporation declares a 5% stock dividend
when the fair value of the stock is $66 per share.
Prepare the journal entries for Tamarisk 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 0...
Brief Exercise 15-14 Flounder Corporation has outstanding 444,000 shares of $10 par value common stock. The corporation declares a 100% stock dividend when the fair value of the stock is $67 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.)...
Brief Exercise 15-14 Pearl Corporation has outstanding 394,000 shares of $10 par value common stock. The corporation declares a 100% stock dividend when the fair value of the stock is $71 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.)...
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