Homework Answers
Requirement:1
| Date | Account Titles and Explanation | Debit | Credit |
| Nov. 30, 2014 | Dividend Payable [20000*$3] | $ 60,000 | |
| Cash | $ 60,000 | ||
| (To record payments of dividends) |
Requirement:2
| Date | Account Titles and Explanation | Debit | Credit |
| Nov. 1, 2014 | Cash Dividend [20000*$3] | $ 60,000 | |
| Dividend Payable | $ 60,000 | ||
| ( To record declaration of dividend) |
Add Answer to:
how do you calculate and record the journal entry?
How do you calculate and record the...
5. Want you to record the declaration; 6. record entry; and 7. record cash. Should 5 or 6 be no journal entry? I am conf...
5. Want you to record the declaration; 6. record entry; and 7.
record cash. Should 5 or 6 be no journal entry? I am confused as to
why there are 2 steps here.
Major League Apparel has two classes of stock authorized: 6%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issue 110,000 shares of common stock for $54 per share. February 14 Issue 44,000...
View transaction list Journal entry worksheet 2 5 6 1 3 Record the resell 90,000 shares...
View transaction list Journal entry worksheet 2 5 6 1 3 Record the resell 90,000 shares of treasury stock for $42 per share. Note: Enter debits before credits. Credit Date General Journal Debit August 15, 2021 Record entry View general journal 4 View transaction list Journal entry worksheet 1 2 3 4 5 Record the declaration of a cash dividend on its common stock of $1.20 per share and a $456,000 (4% of par value) cash dividend on its preferred...
with this info given i need to know how to do the journal entry from 1-5?...
with this info given i need to know how to do the journal entry
from 1-5?
Major League Apparel has two classes of stock authorized: 5%, $10 par preferred, and 51 par value common. The following transactions affect stockholders' equity duri January 2 Issue 100,000 shares of common stock for $60 per share February 14 Issue 50,000 shares of preferred stock for $11 per share. May 8 Repurchase 10,000 shares of its own common stock for $50 per share May...
INSTRUCTIONS: Record the following transactions for Waylon Corp. 10-Sep Issued 2,000 shares of its $2 stated...
INSTRUCTIONS: Record the following transactions for Waylon Corp. 10-Sep Issued 2,000 shares of its $2 stated value common stock for $30 per share. 10-Oct Issued 1 ,000 shares of its $2 stated value common stock for equipment advertised for sale at $38,000. Waylon's stock is actively traded on this date at a market price of $30 per share. 10-Nov Issued 3,000 shares of $10 par value preferred stock at $40 per share.for cash 1-Sep The board of directors of Granger...
Record These Journal Entries: 1) Record the issuance of 1.10 million shares of common stock for...
Record These Journal Entries:
1) Record the issuance of 1.10 million shares of common stock
for $31 per share.
2) Record the issuance of 560,000 shares of preferred stock for
$22 per share.
3) Record the purchase of 110,000 shares of its own common stock
for $26 per share.
4) Record the resell 82,500 shares of treasury stock for $41 per
share.
5) Record the declaration of a cash dividend on its common stock
of $1.10 per share and a...
Question: Please help! The balance sheet of Consolidated Paper, Inc., included the following shareholders' equity accounts...
Question:
Please help!
The balance sheet of Consolidated Paper, Inc., included the
following shareholders' equity accounts at December 31, 2020:
Paid-in capital: Preferred stock,
8.8%, 90,000 shares at $1 par$90,000 Common stock, 364,000 shares
at $1 par 364,000 Paid-in capital—excess of par, preferred
1,437,000 Paid-in capital—excess of par, common 2,574,000 Retained
earnings 9,735,000 Treasury stock, at cost; 4,000 common shares
(44,000)Total shareholders' equity$14,156,000
During 2021, several events and transactions affected the
retained earnings of Consolidated Paper.
Required:
1. Prepare the appropriate...
please answer the following multiple choice questions 20. The following information is from the balance sheet...
please answer the following multiple choice questions
20. The following information is from the balance sheet of Tudor Corporation as of December 31, 2014 Preferred stock, S100 par Paid-in capital in excess of par preferred Common stock, SI par Paid-in capital in excess of par common Retained earnings Total stockholders' equity What was the average issue price of the common stock shares? A) S1.90 B) $1.00 C) $3.00 D) S13.15 $ 500,000 35,000 190,000 380,000 131.500 SL236.500 21. Dallkin Corporation...
7 entries required: 1. Record the issuance of 120,000 shares of common stock for $62 per share. 2. Record the issuance...
7 entries required:
1. Record the issuance of 120,000 shares of common stock for $62
per share.
2. Record the issuance of 52,000 shares of preferred stock for
$13 per share.
3. Record the purchase of 12,000 shares of its own common stock
for $52 per share.
4. Record the resell of 6,000 shares of treasury stock for $57
per share.
5. Record the declaration of a cash dividend on its common stock
of $0.60 per share and a $20,800...
The stockholders' equity section of Robert Corporation's balance sheet as of December 31, 2019 is as...
The stockholders' equity section of Robert Corporation's balance sheet as of December 31, 2019 is as follows: Common Stock. $1 par value; 1,500,000 shares issued and outstanding $ 1,500,000 Paid-in Capital in Excess of Par Common Stock 3,750,000 Preferred Stock, 5%, $50 par, cumulative, 20,000 shares issued and outstanding 1,000,000 Paid-in Capital in Excess of Par-Preferred Stock 1,250,000 Part A: On the next pages, record the journal entries for the events that occurred on the following dates during 2020. I...
1,000. Prepare the February 1, 2017, journal entry. BE15-6 (L01) Moonwalker Corporation issued 2.000 shares of...
1,000. Prepare the February 1, 2017, journal entry. BE15-6 (L01) Moonwalker Corporation issued 2.000 shares of its $10 par value common stock for $60,000. Moonwalker also incurred $1,500 of costs associated with issuing the stock. Prepare Moonwalker's journal entry to record the issuance of the company's stock. BE15-7 (L01) Hinges Corporation issued 500 shares of $100 par value preferred stock for $61,500. Prepare Hinges's journal entry BE15-8 (L02) Sprinkle Inc. has outstanding 10,000 shares of $10 par value common stock....
5. Want you to record the declaration; 6. record entry; and 7.
record cash. Should 5 or 6 be no journal entry? I am confused as to
why there are 2 steps here.
Major League Apparel has two classes of stock authorized: 6%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issue 110,000 shares of common stock for $54 per share. February 14 Issue 44,000...
View transaction list Journal entry worksheet 2 5 6 1 3 Record the resell 90,000 shares of treasury stock for $42 per share. Note: Enter debits before credits. Credit Date General Journal Debit August 15, 2021 Record entry View general journal 4 View transaction list Journal entry worksheet 1 2 3 4 5 Record the declaration of a cash dividend on its common stock of $1.20 per share and a $456,000 (4% of par value) cash dividend on its preferred...
with this info given i need to know how to do the journal entry
from 1-5?
Major League Apparel has two classes of stock authorized: 5%, $10 par preferred, and 51 par value common. The following transactions affect stockholders' equity duri January 2 Issue 100,000 shares of common stock for $60 per share February 14 Issue 50,000 shares of preferred stock for $11 per share. May 8 Repurchase 10,000 shares of its own common stock for $50 per share May...
Record These Journal Entries:
1) Record the issuance of 1.10 million shares of common stock
for $31 per share.
2) Record the issuance of 560,000 shares of preferred stock for
$22 per share.
3) Record the purchase of 110,000 shares of its own common stock
for $26 per share.
4) Record the resell 82,500 shares of treasury stock for $41 per
share.
5) Record the declaration of a cash dividend on its common stock
of $1.10 per share and a...
Question:
Please help!
The balance sheet of Consolidated Paper, Inc., included the
following shareholders' equity accounts at December 31, 2020:
Paid-in capital: Preferred stock,
8.8%, 90,000 shares at $1 par$90,000 Common stock, 364,000 shares
at $1 par 364,000 Paid-in capital—excess of par, preferred
1,437,000 Paid-in capital—excess of par, common 2,574,000 Retained
earnings 9,735,000 Treasury stock, at cost; 4,000 common shares
(44,000)Total shareholders' equity$14,156,000
During 2021, several events and transactions affected the
retained earnings of Consolidated Paper.
Required:
1. Prepare the appropriate...
please answer the following multiple choice questions
20. The following information is from the balance sheet of Tudor Corporation as of December 31, 2014 Preferred stock, S100 par Paid-in capital in excess of par preferred Common stock, SI par Paid-in capital in excess of par common Retained earnings Total stockholders' equity What was the average issue price of the common stock shares? A) S1.90 B) $1.00 C) $3.00 D) S13.15 $ 500,000 35,000 190,000 380,000 131.500 SL236.500 21. Dallkin Corporation...
7 entries required:
1. Record the issuance of 120,000 shares of common stock for $62
per share.
2. Record the issuance of 52,000 shares of preferred stock for
$13 per share.
3. Record the purchase of 12,000 shares of its own common stock
for $52 per share.
4. Record the resell of 6,000 shares of treasury stock for $57
per share.
5. Record the declaration of a cash dividend on its common stock
of $0.60 per share and a $20,800...
The stockholders' equity section of Robert Corporation's balance sheet as of December 31, 2019 is as follows: Common Stock. $1 par value; 1,500,000 shares issued and outstanding $ 1,500,000 Paid-in Capital in Excess of Par Common Stock 3,750,000 Preferred Stock, 5%, $50 par, cumulative, 20,000 shares issued and outstanding 1,000,000 Paid-in Capital in Excess of Par-Preferred Stock 1,250,000 Part A: On the next pages, record the journal entries for the events that occurred on the following dates during 2020. I...
1,000. Prepare the February 1, 2017, journal entry. BE15-6 (L01) Moonwalker Corporation issued 2.000 shares of its $10 par value common stock for $60,000. Moonwalker also incurred $1,500 of costs associated with issuing the stock. Prepare Moonwalker's journal entry to record the issuance of the company's stock. BE15-7 (L01) Hinges Corporation issued 500 shares of $100 par value preferred stock for $61,500. Prepare Hinges's journal entry BE15-8 (L02) Sprinkle Inc. has outstanding 10,000 shares of $10 par value common stock....
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