On September 15, 2018, the Scottie Company board of directors declared a 10% stock dividend on...
On September 15, 2018, the Scottie Company board of directors declared a 10% stock dividend on common shares. The shares are to be distributed on October 10, 2018, to shareholders of record on October 1, 2018. The market price per share on the date of declaration was $26 while the market price on the date of distribution was $28. The common stock has a par value of $5 per share and there were 1,000,000 shares outstanding prior to the declaration of the stock dividend.
Prepare any necessary journal entries to record the above transactions. Show all computations.
Homework Answers
Add Answer to:
On September 15, 2018, the Scottie Company board of directors
declared a 10% stock dividend on...
On September 15, 2018, the Scottie Company board of directors declared a 12% stock dividend on...
On September 15, 2018, the Scottie Company board of directors declared a 12% stock dividend on common shares. The shares are to be distributed on October 10, 2018, to shareholders of record on October 1, 2018. The market price per share on the date of declaration was $23.8 while the market price on the date of distribution was $25.8. The common stock has a par of $5 per share and there were 1,600,000 shares outstanding prior to the declaration of...
On September 15, 2020, the Board of Directors of Tamarisk Company declared a 90¢ per share...
On September 15, 2020, the Board of Directors of Tamarisk
Company declared a 90¢ per share cash dividend, payable on October
31 to shareholders of record as of October 1. On the date of
declaration, Tamarisk Company had 205,000 common shares
outstanding, of which 27,000 were held in Treasury. On October 15,
2020, the company issued an additional 60,000 common shares for
$6.00 each.
Prepare all the required journal entries to record these
transactions. (Credit account titles are automatically
indented...
Question 15 View Policies Current Attempt in Progress On October 10, the board of directors of...
Question 15 View Policies Current Attempt in Progress 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. (Credit account titles are...
On February 5, 2018, Cinch Rental Corporation's board of directors declared a dividend of $0.10, to...
On February 5, 2018, Cinch Rental Corporation's board of directors declared a dividend of $0.10, to be paid on March 18, 2018, to the shareholders of record as of the close of business on March 9, 2018. Cinch has 3,500,000 shares of $0.01 par-value common stock authorized with 1,300,000 shares issued and outstanding. The company has no preferred stock. Record the declaration of the dividend and the payment of the dividend. Include the proper dates with each journal entry. (Record...
On October 15, 2018, a 5% stock dividend was declared and distributed. The fair value of...
On October 15, 2018, a 5% stock dividend was declared and distributed. The fair value of the common stock on this date was $32.4 per share. Fractional share rights represented 100,000 shares. Cash was paid in lieu of issuing fractional share rights. On the date of declaration and payment, the company had 10.4 million shares of common stock outstanding. The par of the common shares was $5. Required: Prepare any necessary Journal entry to record declaration and distribution of stock...
On June 13, the board of directors of Siewert Inc. declared a 6% stock dividend on...
On June 13, the board of directors of Siewert Inc. declared a 6% stock dividend on its 50 million, $2 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $33 on June 13 Complete the below table to calculate the stock dividend. Prepare a journal entry that summarizes the declaration and distribution of the stock dividend. Complete this question by entering your answers in the tabs below. Stock Dividend General Journal Complete...
On November 27, the board of directors of Beth Company declared a 5.60 per share dividend....
On November 27, the board of directors of Beth Company declared a 5.60 per share dividend. The dividend is payable to shareholders of record on December 7 on December 24. Beth has 25,500 shares of 1 par common stock outstanding at November 27 Journaline the entries needed on the declaration and payment dates. (Credit accountries are automatically indented when mount is entered. Do not inden manly. If no entry is required select "No Entry for the account bles and enter...
Testbank, Question 79 On July 15, 2018, the board of directors of George Easton Limited declared...
Testbank, Question 79 On July 15, 2018, the board of directors of George Easton Limited declared a cash dividend of $0.50 per share on 84,000 common shares. The dividend is to be paid on August 15, 2018, to shareholders of record on July 31, 2018. The effects of the journal entry to record the declaration of the dividend on July 15, 2018, are to decrease shareholders' equity and decrease assets. o decrease shareholders' equity and increase liabilities. o increase shareholders'...
($ in eees) $120,000 720,000 990,800 Common stock, 120 million shares at $1 par Paid-in capital-excess of par Retained earnings a. November 1, 2018, the board of directors declared a cash divid...
($ in eees) $120,000 720,000 990,800 Common stock, 120 million shares at $1 par Paid-in capital-excess of par Retained earnings a. November 1, 2018, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December 1 b. On March 1, 2019, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The...
The board of directors declared a $2 per share cash dividend on common stock and the...
The board of directors declared a $2 per share cash dividend on common stock and the corporation had 5,000 shares authorized and 4,000 shares outstanding and make a journal entry. The journal entry for the dividend payment would be
On September 15, 2018, the Scottie Company board of directors declared a 12% stock dividend on common shares. The shares are to be distributed on October 10, 2018, to shareholders of record on October 1, 2018. The market price per share on the date of declaration was $23.8 while the market price on the date of distribution was $25.8. The common stock has a par of $5 per share and there were 1,600,000 shares outstanding prior to the declaration of...
On September 15, 2020, the Board of Directors of Tamarisk
Company declared a 90¢ per share cash dividend, payable on October
31 to shareholders of record as of October 1. On the date of
declaration, Tamarisk Company had 205,000 common shares
outstanding, of which 27,000 were held in Treasury. On October 15,
2020, the company issued an additional 60,000 common shares for
$6.00 each.
Prepare all the required journal entries to record these
transactions. (Credit account titles are automatically
indented...
Question 15 View Policies Current Attempt in Progress 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. (Credit account titles are...
On February 5, 2018, Cinch Rental Corporation's board of directors declared a dividend of $0.10, to be paid on March 18, 2018, to the shareholders of record as of the close of business on March 9, 2018. Cinch has 3,500,000 shares of $0.01 par-value common stock authorized with 1,300,000 shares issued and outstanding. The company has no preferred stock. Record the declaration of the dividend and the payment of the dividend. Include the proper dates with each journal entry. (Record...
On October 15, 2018, a 5% stock dividend was declared and distributed. The fair value of the common stock on this date was $32.4 per share. Fractional share rights represented 100,000 shares. Cash was paid in lieu of issuing fractional share rights. On the date of declaration and payment, the company had 10.4 million shares of common stock outstanding. The par of the common shares was $5. Required: Prepare any necessary Journal entry to record declaration and distribution of stock...
On June 13, the board of directors of Siewert Inc. declared a 6% stock dividend on its 50 million, $2 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $33 on June 13 Complete the below table to calculate the stock dividend. Prepare a journal entry that summarizes the declaration and distribution of the stock dividend. Complete this question by entering your answers in the tabs below. Stock Dividend General Journal Complete...
On November 27, the board of directors of Beth Company declared a 5.60 per share dividend. The dividend is payable to shareholders of record on December 7 on December 24. Beth has 25,500 shares of 1 par common stock outstanding at November 27 Journaline the entries needed on the declaration and payment dates. (Credit accountries are automatically indented when mount is entered. Do not inden manly. If no entry is required select "No Entry for the account bles and enter...
Testbank, Question 79 On July 15, 2018, the board of directors of George Easton Limited declared a cash dividend of $0.50 per share on 84,000 common shares. The dividend is to be paid on August 15, 2018, to shareholders of record on July 31, 2018. The effects of the journal entry to record the declaration of the dividend on July 15, 2018, are to decrease shareholders' equity and decrease assets. o decrease shareholders' equity and increase liabilities. o increase shareholders'...
($ in eees) $120,000 720,000 990,800 Common stock, 120 million shares at $1 par Paid-in capital-excess of par Retained earnings a. November 1, 2018, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December 1 b. On March 1, 2019, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch-Rickie was holding as an investment. The...
Most questions answered within 3 hours.
-
Which DNA primer would have the HIGHEST melting temperature?
Question 17 options:
a)
GCATCGGC
b)
AATCGGAT...
asked 21 seconds ago -
which of the following may lead to speciation?
a. a group of individuals from a mainland...
asked 5 minutes ago -
Please I need today answer for This question and it is very
important and I need...
asked 24 minutes ago -
Five years from today, you plan to invest $3,700 for 7
additional years at 5.8 percent...
asked 24 minutes ago -
GDL just paid a dividend of $4.06 per share. You expect
dividends to grow 12% for...
asked 25 minutes ago -
which of the following is a basic compound?
vinegar
orange juice
seltzer
none of the above
asked 28 minutes ago -
5. Suppose you obtained 0.55 g of crude clove oil from 7.0 g of
fresh cloves....
asked 38 minutes ago -
Provide a paragraph of introduction that generally describes
cognitive development over the lifespan.
asked 43 minutes ago -
In a market, when the price increased the total expenditure on
the good also increased. Is...
asked 43 minutes ago -
If 5.70 g of potassium react with water, how many grams of
hydrogen gas, H2, are...
asked 57 minutes ago -
How many moles of CO2 and H2O will be
produced by combustion analysis of 0.010 mol...
asked 55 minutes ago -
Tennis champion Maria Sharapova is capable of serving a tennis
ball at 126 mph.
b) What...
asked 1 hour ago