Homework Answers
Answers:
|
Date |
Particulars |
Debt |
Credit |
|
6/30/2020 |
Retained earnings 60000*0.20*15 = 180000 |
180,000 |
|
|
Common stock dividend distributable 60000*0.20*10 = 120000 |
120,000 |
||
|
Paid in capital in excess of par 60000*0.20*5 = 60000 |
60,000 |
||
|
7/15/2020 |
No Entry |
||
|
7/31/2020 |
Common stock dividend distributable 60000*0.20*10 = 120000 |
120,000 |
|
|
Common stock |
120,000 |
||
|
21/1/2020 No entry |
Common stock $10 per share * 72000 shares issued = 720000 |
720,000 |
|
|
Common stock Stock split=72000*2 = 144000 $5 per share * 144000 = 720000 |
720,000 |
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!!! Apps Home - Intranet 6 CHAPTER 14 ASSIGNMENT -/1 > Question 44 of 50 Juno...
!!! Apps Home - Intranet E CHAPTER 14 ASSIGNMENT -/1 Question 28 of 50 Bramble Corporation...
!!! Apps Home - Intranet E CHAPTER 14 ASSIGNMENT -/1 Question 28 of 50 Bramble Corporation has 3,000 shares of 7%, $110 par value preferred stock outstanding at December 31, 2020. At December 31, 2020, the company declared a $130,000 cash dividend. Determine the dividend paid to preferred stockholders and common stockholders under each of the following scenarios. 1. The preferred stock is noncumulative, and the company has not missed any dividends in previous years. $ The dividend paid to...
Problem III: (15%) Juno Corporation's stockholders' equity section at December 31, 2016 appears below: Stockholders' equity...
Problem III: (15%) Juno Corporation's stockholders' equity section at December 31, 2016 appears below: Stockholders' equity Paid-in capital Common stock, $10 par, 60,000 outstanding $600,000 Paid-in capital in excess of par 150.000 Total paid-in capital $750,000 Retained earnings 150.000 Total stockholders' equity $900.000 On June 30, 2017, the board of directors of Juno Corporation declared a 20% stock dividend, payable on July 31, 2017, to stockholders of record on July 15, 2017. The fair value of Juno Corporation's stock on...
E CHAPTER 14 ASSIGNMENT - / 1 III Question 35 of 50 On October 10, the...
E CHAPTER 14 ASSIGNMENT - / 1 III Question 35 of 50 On October 10, the board of directors of Pinto Corporation declared a 10% stock dividend. On October 10, the company had 10,000 shares of $1 par common stock issued and outstanding with a market price of $16 per share. The stock dividend will be distributed on October 31 to shareholders of record on October 25. Journalize the entries needed for the declaration and distribution of the stock dividend....
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...
Problem 14-01A a-c (Video) On January 1, 2020, Blossom Corporation had the following stockholders' equity accounts....
Problem 14-01A a-c (Video) On January 1, 2020, Blossom Corporation had the following stockholders' equity accounts. Common Stock ($26 par value, 55,500 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,443,000 202,000 637,000 During the year, the following transactions occurred. Feb. 1 Declared a $3 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...
Exercise 15-14 The stockholders’ equity accounts of Sunland Company have the following balances on December 31,...
Exercise 15-14
The stockholders’ equity accounts of Sunland Company have the
following balances on December 31, 2020.
Common stock, $10 par, 290,000 shares issued and
outstanding
$2,900,000
Paid-in capital in excess of par—common stock
1,120,000
Retained earnings
5,110,000
Shares of Sunland Company stock are currently selling on the
Midwest Stock Exchange at $36.
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 15-14 The stockholders' equity accounts of Culver Company have the following balances on December 31,...
Exercise 15-14 The stockholders' equity accounts of Culver Company have the following balances on December 31, 2020 Common stock, $10 par, 285,000 shares issued and outstanding $2,850,000 Paid-in capital in excess of par-common stock 1,230,000 Retained earnings 5,240,000 Shares of Oulver Company stock are currently selling on the Midwest Stock Exchange at $38. Prepare the appropriate joumal entries for each of the following cases. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no...
Problem 14-01A a-c (Video) On January 1, 2020, Cullumber Corporation had the following stockholders' equity accounts....
Problem 14-01A a-c (Video) On January 1, 2020, Cullumber Corporation had the following stockholders' equity accounts. Common Stock ($24 par value, 59,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,416,000 197,000 559,000 During the year, the following transactions occurred. Feb. 1 Declared a $3 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...
Exercise 15-14 The stockholders' equity accounts of Pearl Company have the following balances on December 31,...
Exercise 15-14 The stockholders' equity accounts of Pearl Company have the following balances on December 31, 2020. Common stock, $10 par, 295,000 shares issued and outstanding Paid-in capital in excess of par-common stock Retained earnings $2,950,000 1,280,000 5,950,000 Shares of Pearl Company stock are currently selling on the Midwest Stock Exchange at $39. 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...
Accounting Principles Homework Problems Chapter 14 1. On January 1, 2020, Smith Corporation had the following...
Accounting Principles Homework Problems Chapter 14 1. On January 1, 2020, Smith Corporation had the following balances in the balances in its' stockholders' equity accounts. Common Stock ($10 par value, 120,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,200,000 200,000 600,000 The following transactions occurred during the year. Jan. 1 Declared a $1 cash dividend per share to stockholders of record on January 15, payable February 1. Feb. 1 Paid the dividend declared in...
!!! Apps Home - Intranet E CHAPTER 14 ASSIGNMENT -/1 Question 28 of 50 Bramble Corporation has 3,000 shares of 7%, $110 par value preferred stock outstanding at December 31, 2020. At December 31, 2020, the company declared a $130,000 cash dividend. Determine the dividend paid to preferred stockholders and common stockholders under each of the following scenarios. 1. The preferred stock is noncumulative, and the company has not missed any dividends in previous years. $ The dividend paid to...
Problem III: (15%) Juno Corporation's stockholders' equity section at December 31, 2016 appears below: Stockholders' equity Paid-in capital Common stock, $10 par, 60,000 outstanding $600,000 Paid-in capital in excess of par 150.000 Total paid-in capital $750,000 Retained earnings 150.000 Total stockholders' equity $900.000 On June 30, 2017, the board of directors of Juno Corporation declared a 20% stock dividend, payable on July 31, 2017, to stockholders of record on July 15, 2017. The fair value of Juno Corporation's stock on...
E CHAPTER 14 ASSIGNMENT - / 1 III Question 35 of 50 On October 10, the board of directors of Pinto Corporation declared a 10% stock dividend. On October 10, the company had 10,000 shares of $1 par common stock issued and outstanding with a market price of $16 per share. The stock dividend will be distributed on October 31 to shareholders of record on October 25. Journalize the entries needed for the declaration and distribution of the stock dividend....
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...
Problem 14-01A a-c (Video) On January 1, 2020, Blossom Corporation had the following stockholders' equity accounts. Common Stock ($26 par value, 55,500 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,443,000 202,000 637,000 During the year, the following transactions occurred. Feb. 1 Declared a $3 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...
Exercise 15-14
The stockholders’ equity accounts of Sunland Company have the
following balances on December 31, 2020.
Common stock, $10 par, 290,000 shares issued and
outstanding
$2,900,000
Paid-in capital in excess of par—common stock
1,120,000
Retained earnings
5,110,000
Shares of Sunland Company stock are currently selling on the
Midwest Stock Exchange at $36.
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 15-14 The stockholders' equity accounts of Culver Company have the following balances on December 31, 2020 Common stock, $10 par, 285,000 shares issued and outstanding $2,850,000 Paid-in capital in excess of par-common stock 1,230,000 Retained earnings 5,240,000 Shares of Oulver Company stock are currently selling on the Midwest Stock Exchange at $38. Prepare the appropriate joumal entries for each of the following cases. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no...
Problem 14-01A a-c (Video) On January 1, 2020, Cullumber Corporation had the following stockholders' equity accounts. Common Stock ($24 par value, 59,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,416,000 197,000 559,000 During the year, the following transactions occurred. Feb. 1 Declared a $3 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...
Exercise 15-14 The stockholders' equity accounts of Pearl Company have the following balances on December 31, 2020. Common stock, $10 par, 295,000 shares issued and outstanding Paid-in capital in excess of par-common stock Retained earnings $2,950,000 1,280,000 5,950,000 Shares of Pearl Company stock are currently selling on the Midwest Stock Exchange at $39. 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...
Accounting Principles Homework Problems Chapter 14 1. On January 1, 2020, Smith Corporation had the following balances in the balances in its' stockholders' equity accounts. Common Stock ($10 par value, 120,000 shares issued and outstanding) Paid-in Capital in Excess of Par-Common Stock Retained Earnings $1,200,000 200,000 600,000 The following transactions occurred during the year. Jan. 1 Declared a $1 cash dividend per share to stockholders of record on January 15, payable February 1. Feb. 1 Paid the dividend declared in...
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