66. Randall's, Inc. has 20,000 shares of stock outstanding with a par value of $1.00 per share. The market value is $12 per share. The balance sheet shows $42,000 in the capital in excess of par account, $20,000 in the common stock account, and $50,500 in the retained earnings account. The firm just announced a 5 percent (small) stock dividend. What will the balance in the retained earnings account be after the dividend? A. $38,500 B. $39,500 C. $50,500 D. $61,500 E. $62,500 Retained earnings = [(20,000 shares × 0.05) × $12 × -1] + $50,500 = $38,500
???
We need at least 10 more requests to produce the answer.
0 / 10 have requested this problem solution
The more requests, the faster the answer.
66. Randall's, Inc. has 20,000 shares of stock outstanding with a par value of $1.00 per...
Murphy's, Inc., has 32,450 shares of stock outstanding with a par value of $1 per share. The market value is $10 per share. The balance sheet shows $88,850 in the capital in excess of par account, $32,450 in the common stock account, and $157,950 in the retained earnings account. The firm just announced a stock dividend of 12 percent. What will the market price per share be after the dividend?
Murphy's, Inc., has 31,850 shares of stock outstanding with a par value of $1 per share. The market value is $13 per share. The balance sheet shows $87,650 in the capital in excess of par account, $31,850 in the common stock account, and $145,950 in the retained earnings account. The firm just announced a stock dividend of 12 percent. What will the market price per share be after the dividend? $13.50 $13.00 $12.50 $11.61 $12.61
Robinson's has 46,000 shares of stock outstanding with a par value of $1 per share and a market price of $52 a share. The balance sheet shows $46,000 in the common stock account, $515,000 in the paid in surplus account, and $530,000 in the retained earnings account. The firm just announced a 2-for-1 stock split. How many shares of stock will be outstanding after the split? Multiple Choice 0 46,000 shares 0 23,000 shares 0 92,000 shares 0 91,500 shares...
Odessa Corporation had 20,000 shares of $2 par value common stock outstanding on July 1. On that day, the board of directors declared a 10% stock dividend when the market value of each share was $9. The stock dividend is to be distributed on July 20 to stockholders of record on July 10. The entry to record the dividend declaration is: a) Debit Retained Earnings $18,000; credit Common Stock Dividends Distributable $4,000; credit Paid-In Capital in Excess of Par Value,...
Odessa Corporation had 20,000 shares of $2 par value common stock outstanding on July 1. On that day, the board of directors declared a 10% stock dividend when the market value of each share was $9. The stock dividend is to be distributed on July 20 to stockholders of record on July 10. The entry to record the dividend declaration is: No entry is made until the stock is issued. Debit retained Earnings $18,000; credit Common Stock Dividends Distributable $4,000;...
4. A corporation had 10,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 30%. At the time of the stock dividend, the market value per share was $12. The entry to record this dividend is: A. Debit Retained Earnings $36,000; credit Common Stock $36,000. B. Debit Retained Earnings $36,000; credit Common Stock $30,000, credit Paid-In Capital in Excess of Par Value $6,000. C. Debit Common Stock $36,000; credit Retained Earnings...
Hazelton Company has 2,000 shares of $2 par common stock. It also has a credit of $10,000 in the Paid-in-Capital, Excess of Par account as well as a $1,000,000 credit balance in Retained Earnings. Hazelton then enters into a 5% stock dividend. At the time of the stock dividend, the market price is $20 per share. As a result of the stock dividend . . . [Mark all that apply]. Common stock will remain $2 par. Paid-in-Capital, Excess of Par...
Stockholders' Equity (January 1) Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $240,000 200.000 340,000 $780,000 Stockholders' Equity (December 31) Common stock-$6 par value, 100,000 shares authorized, 47, 400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity $284,400 244,400 400,000...
Dividends Per Share Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 20,000 shares of cumulative preferred 3% stock, $160 par, and 67,000 shares of $20 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $64,400; second year, $137,600; third year, $171,250; fourth year, $198,510. Compute the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places....
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000 In excess of par on preferred stock $ 300,000 Total Paid-in-Capital from Preferred Stock $ 3,300,000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized. 400,000 shares issued and outstanding $ 10,000,000 In excess of stated value on common stock $ 600,000 Total Paid-in-Capital from Common Stock $ 10,600,000 Total Paid-in-Capital $ 13,900,000 Retained Earnings (Note A) $ 4,100,000 Total Stockholder's Equity $...