Stock Dividend Augusta Corporation reported the following information: 35,000 shares of $3 par value common stock...
Stock Dividend
Augusta Corporation reported the following information: 35,000 shares of $3 par value common stock authorized, 30,000 shares common stock issued, 10,000 shares treasury stock.
Required:
1. What is the appropriate journal entry to record a 5% stock dividend if the market price of the common stock is $40 per share when the dividend is declared?
| Retained Earnings | |||
| Common Stock | |||
| Additional Paid-In Capital-Common Stock |
Feedback
1. Small stock dividends are capitalized using the stock's market value, while large stock dividends are capitalized at the stock's par value.
2. What is the appropriate journal entry to record a 30% stock dividend if the market price of the common stock is $40 per share when the dividend is declared?
| Retained Earnings | |||
| Common Stock | |||
Homework Answers
Request Answer!
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.
Add Answer to:
Stock Dividend
Augusta Corporation reported the following information: 35,000
shares of $3 par value common stock...
Stockholders' Equity (December 31, 2016) Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and...
Stockholders' Equity (December 31, 2016) Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 75,000 410,000 $ 985,000 Stockholders' Equity (December 31, 2017) Common stock-$10 par value, 130,000 shares authorized, 56, 370 shares issued, 4,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($90,000 restricted by treasury stock) $ 563,700 151, 440 740,000 1,455, 140...
Stockholders' Equity (January 1 Common stock-$5 par value, 100,000 shares authorized, 35,000 shares issued and outstanding...
Stockholders' Equity (January 1 Common stock-$5 par value, 100,000 shares authorized, 35,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $175,000 135,000 340,000 $650,809 Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 41,200 shares issued, 4,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($60,000 restricted by treasury stock) $206,000 178,400 400,000 784,400 (60,000) $724,400 Less cost of treasury stock Total...
Stockholders' Equity (January 1) Common stock-$6 par value, 1ee, see shares authorized, 30,000 shares issued and...
Stockholders' Equity (January 1) Common stock-$6 par value, 1ee, see shares authorized, 30,000 shares issued and outstanding Paid-in capital in excess of par value, connon stock Retained earnings Total stockholders' equity $ 188,888 140,880 340,000 $662, see Stockholders' Equity (December 31) Common stock-$6 par value, 1ee, see shares authorized, 35,000 shares Issued, 5,eee shares in treasury Paid-in capital in excess of par value, connon stock Retained earnings (55e, Bee restricted by treasury stock) $21e, see 160, 820 42e,629 790,888 (5e.ee)...
Stockholders' Equity (January 1) Common stock-$6 par value, 100,000 shares authorized, 40,000 shares issued and outstanding...
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...
Beacon Corporation issued a 4 percent stock dividend on 30,500 shares of its $9 par common...
Beacon Corporation issued a 4 percent stock dividend on 30,500 shares of its $9 par common stock. At the time of the dividend, the market value of the stock was $24 per share. Required c. Prepare the journal entry to record the stock dividend. (If no entry is required for a transaction/event, select journal entry required" in the first account field.) Answer is not complete. No Event General Journal Credit Debit 18,300 Common stock 10,980 Weaver Corporation had the following...
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000...
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 $...
Cash and Stock Dividends Debra Corporation has 24,000 shares of $1 par value common stock outstanding....
Cash and Stock Dividends Debra Corporation has 24,000 shares of $1 par value common stock outstanding. The company has $200,000 of retained earnings. At year-end, the company declares a cash dividend of $2.00 per share and a five percent stock dividend. The market price of the stock at the declaration date is $24 per share. Three weeks later, the company pays the dividends. a. Prepare the journal entry for the declaration of the cash dividend. b. Prepare the journal entry...
Odessa Corporation had 20,000 shares of $2 par value common stock outstanding on July 1. On...
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,...
A corporation issued 240 shares of its $5 par value common stock in payment of a...
A corporation issued 240 shares of its $5 par value common stock in payment of a $3.200 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include: Save & E Murile Choice A$200 C A 1200 Organogenes A $2.000 credit to Paid in Capital Escess of Par Valve Common Stock A $1.200 biso Legal Expenses A $1.200 credit to Common Stock Fetzer Company declared a $0.35 per share cash...
4. A corporation had 10,000 shares of $10 par value common stock outstanding when the board...
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...
Stockholders' Equity (December 31, 2016) Common stock-$10 par value, 130,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 500,000 75,000 410,000 $ 985,000 Stockholders' Equity (December 31, 2017) Common stock-$10 par value, 130,000 shares authorized, 56, 370 shares issued, 4,500 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($90,000 restricted by treasury stock) $ 563,700 151, 440 740,000 1,455, 140...
Stockholders' Equity (January 1 Common stock-$5 par value, 100,000 shares authorized, 35,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $175,000 135,000 340,000 $650,809 Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 41,200 shares issued, 4,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($60,000 restricted by treasury stock) $206,000 178,400 400,000 784,400 (60,000) $724,400 Less cost of treasury stock Total...
Stockholders' Equity (January 1) Common stock-$6 par value, 1ee, see shares authorized, 30,000 shares issued and outstanding Paid-in capital in excess of par value, connon stock Retained earnings Total stockholders' equity $ 188,888 140,880 340,000 $662, see Stockholders' Equity (December 31) Common stock-$6 par value, 1ee, see shares authorized, 35,000 shares Issued, 5,eee shares in treasury Paid-in capital in excess of par value, connon stock Retained earnings (55e, Bee restricted by treasury stock) $21e, see 160, 820 42e,629 790,888 (5e.ee)...
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...
Beacon Corporation issued a 4 percent stock dividend on 30,500 shares of its $9 par common stock. At the time of the dividend, the market value of the stock was $24 per share. Required c. Prepare the journal entry to record the stock dividend. (If no entry is required for a transaction/event, select journal entry required" in the first account field.) Answer is not complete. No Event General Journal Credit Debit 18,300 Common stock 10,980 Weaver Corporation had the following...
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 $...
Cash and Stock Dividends Debra Corporation has 24,000 shares of $1 par value common stock outstanding. The company has $200,000 of retained earnings. At year-end, the company declares a cash dividend of $2.00 per share and a five percent stock dividend. The market price of the stock at the declaration date is $24 per share. Three weeks later, the company pays the dividends. a. Prepare the journal entry for the declaration of the cash dividend. b. Prepare the journal entry...
A corporation issued 240 shares of its $5 par value common stock in payment of a $3.200 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include: Save & E Murile Choice A$200 C A 1200 Organogenes A $2.000 credit to Paid in Capital Escess of Par Valve Common Stock A $1.200 biso Legal Expenses A $1.200 credit to Common Stock Fetzer Company declared a $0.35 per share cash...
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...
Most questions answered within 3 hours.
-
In 1970s and 1980s, molecular biologists discovered that the
hormone testosterone, binds a receptor protein that...
asked 1 hour ago -
january 1 2010 road catering service purchase a piece of
equipment for 58000 which is expected...
asked 1 hour ago -
Explain Mertons concept of anomie is and what the
modes of adaptation to it are?
asked 2 hours ago -
Jamie is doing a survey at her school about whether the students
feel the cafeteria food...
asked 4 hours ago -
How many liters of 0.669 M KOH will be needed to raise the pH of
0.339...
asked 6 hours ago -
A liquid of density 1270 kg/m 3 flows steadily through a pipe of
varying diameter and...
asked 6 hours ago -
Questions: What should the American executive do?
'A visiting American executive finds that a foreign subsidiary...
asked 6 hours ago -
Activity based costing was introduced as an alternative to
absorption costing.
1. Discuss using illustration the...
asked 6 hours ago -
1. You own shares of Crane DVD Company and are interested in
selling them. With so...
asked 6 hours ago -
How many grams of He are necessary to fill a balloon having a
volume of 4.5E3...
asked 6 hours ago -
The 2 patients, still in the hospital, were interviewed by a
MoH epidemiologist. The interviews revealed...
asked 6 hours ago -
An uncharged capacitor and a resistor are connected in series to
a source of emf. If...
asked 7 hours ago