a.1)
Account Title and Explanation | Debit | Credit |
Stock Dividends (5,000×2%×$35) | $3,500 | |
Stock Dividends Distributable (5,000×2%×$25) | $2,500 | |
Paid in Capital in Excess of Par Common Stock | $1,000 |
a.2)
Account Title and Explanation | Debit | Credit |
Stock Dividend Distributable | $2,500 | |
Common Stock | $2,500 |
b.
Total Paid in Capital ($125,000+25,000) | $150,000 |
Total Retained Earnings | $1,375,000 |
Total Stockholders Equity | $1,525,000 |
c)
Total Paid in Capital ($150,000+$3,500 | $153,500 |
Total Retained Earnings ($1,375,000-$3,500) | $1,371,500 |
Total Stockholders Equity | $1,525,000 |
Print Item Entries for Stock Dividends Senior Life Co. is an HMO for businesses in the...
Entries for Stock Dividends Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Senior Life Co.: Common stock (360,000 shares authorized; 7,000 shares issued), $75 par, $525,000; Paid-In Capital in excess of par-common stock, $105,000; and Retained earnings, $5,775,000. The board of directors declared a 2% stock dividend when the market price of the stock was $100 a share. Senior Life Co, reported no income or loss...
Entries for Stock Dividends Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Senior Life Co.: Common stock (400,000 shares authorized; 3,000 shares issued), $25 par, $75,000; Paid-In Capital in excess of par— common stock, $9,000; and Retained earnings, $675,000. The board of directors declared a 1% stock dividend when the market price of the stock was $33 a share. Senior Life Co. reported no income or...
Entries for Stock Dividends Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Senior Life Co.: Common stock (250,000 shares authorized; 4,000 shares issued), $75 par, $300,000; Paid-In Capital in excess of par— common stock, $32,000; and Retained earnings, $3,600,000. The board of directors declared a 2% stock dividend when the market price of the stock was $92 a share. Senior Life Co. reported no income or...
Entries for Stock Dividends Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Senior Life Co.: Common stock (410,000 shares authorized; 8,000 shares issued), $25 par, $200,000; Paid-In Capital in excess of par— common stock, $24,000; and Retained earnings, $1,800,000. The board of directors declared a 2% stock dividend when the market price of the stock was $32 a share. Senior Life Co. reported no income or...
Entries for Stock Dividends Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Senior Life Co.: Common stock (260,000 shares authorized; 8,000 shares issued), $75 par, $600,000; Paid-In Capital in excess of par— common stock, $64,000; and Retained earnings, $5,400,000. The board of directors declared a 1% stock dividend when the market price of the stock was $90 a share. Senior Life Co. reported no income or...
Entries for Stock Dividends Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Senior Life Co.: Common stock (440,000 shares authorized; 8,000 shares issued), $100 par, $800,000; Paid-In Capital in excess of par, common stock, $80,000; and Retained earnings, $9,600,000. The board of directors declared a 2% stock dividend when the market price of the stock was $130 a share. Senior Life Co. reported no income or...
Entries for Stock Dividends Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Senior Life Co.: Common stock (410,000 shares authorized; 6,000 shares issued), $25 par, $150,000; Paid-In Capital in excess of par— common stock, $30,000; and Retained earnings, $1,800,000. The board of directors declared a 2% stock dividend when the market price of the stock was $31 a share. Senior Life Co. reported no income or...
Entries for Stock Dividends Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Senior Life Co.: Common stock (280,000 shares authorized; 8,000 shares issued), $75 par, $600,000; Paid-In Capital in excess of par- common stock, $120,000; and Retained earnings, $6,600,000. The board of directors declared a 2% stock dividend when the market price of the stock was $99 a share. Senior Life Co. reported no income or...
Entries for Stock Dividends Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Senior Life Co.: Common stock (220,000 shares authorized; 7,000 shares issued), $125 par, $875,000; Paid-In Capital in excess of par common stock, $91,000; and Retained earnings, $7,000,000. The board of directors declared a 2% stock dividend when the market price of the stock was $154 a share. Senior Life Co. reported no income or...
Entries for Stock Dividends Senior ute Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Senior Co. Common stock (390,000 shares authorised; 3,000 shares issued) $50 par, $400,000; Pald-in Capital in excess of par- common stock, $80,000, and Retained earnings, $4,000,000. The board of directors declared a 2 stock dividend when the market price of the stock was $61 a share. Senior Life Co. reported no income or loss...