Dividend - cash and non cash 2. On 1/1/12, ABC issued 10,000 shares of $1.00 par...
ABC Corp. has 500,000 shares of P10 par ordinary share capital outstanding as of October 1, 2010. On this date, the Board of directors declared a share capital dividend distributable on November 20, 2010 to shareholders of record of October 30. The Market price of each ordinary share is P25 on October 1; P23 on October 30 and P30 on November 20. Instructions: Prepare the entries to record the declaration and distribution of stock dividends under each of the following...
On January 1, Molini Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a par value of $5 per share. During the year, the following occurred. Jan. 5 Issued 25,000 additional shares of common stock for $17 per share. April 15 Declared a cash dividend of $1 per share to stockholders of record on April 30. May 10 Paid the $1 cash dividend. July 15 Declared a 10% stock dividend on 120,000 (95,000 + 25,000)...
On January 1, Oriole Corporation had 97,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. 1 Issued 29,500 additional shares of common stock for $19 per share. June 15 Declared a cash dividend of $3 per share to stockholders of record on June 30. July 10 Paid the $3 cash dividend. Dec. 1 Issued 1,000 additional shares of common stock for $18 per...
On January 1, 2020, Swifty Corporation had 79,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred: Mar. 1 Issued 91,000 shares of common stock for $603,000. June 1 Declared a cash dividend of $2.00 per share to stockholders of record on June 15. June 30 Paid the $2.00 cash dividend. Dec. 1 Purchased 9,000 shares of common stock for the treasury for $19 per share. Dec. 15 Declared a cash dividend...
E14-1 On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $5 per share. During the year, the following occurred. Apr. 1 Issued 25,000 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Issued 2,000 additional shares of common stock for $19...
On January 1, 2022, Swifty Corporation had these stockholders’ equity accounts. Common Stock ($10 par value, 75,500 shares issued and outstanding) $755,000 Paid-in Capital in Excess of Par Value 490,500 Retained Earnings 611,000 During the year, the following transactions occurred. Jan. 15 Declared a $0.40 cash dividend per share to stockholders of record on January 31, payable February 15. Feb. 15 Paid the dividend declared in January. Apr. 15 Declared a 10% stock dividend to stockholders of record on April...
Exercise 11-13 On January 1, Cheyenne Corp. had 97,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. 1 Issued 29,500 additional shares of common stock for $18 per share. June 15 Declared a cash dividend of $2 per share to stockholders of record on June 30. July 10 Paid the $2 cash dividend. Dec. 1 Issued 3,000 additional shares of common stock for...
On January 1, Crane Corporation had 99,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following occurred. Apr. 1 Issued 25,500 additional shares of common stock for $17 per share. June 15 Declared a cash dividend of $1 per share to stockholders of record on June 30. July 10 Paid the $1 cash dividend. Dec. 1 Issued 3,000 additional shares of common stock for $19 per...
Exercise 11-13 On January 1, Guillen Corporation had 97,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $6 per share. During the year, the following occurred. Apr. 1 June 15 July 10 Dec. 1 15 Issued 22,500 additional shares of common stock for $18 per share. Declared a cash dividend of $1 per share to stockholders of record on June 30. Paid the $1 cash dividend. Issued 1,500 additional shares of common stock...
On January 1, 2017 PT Megaworld had 50,000 shares, $4 par value per share, during the year, the following transactions occurred. Apr Issued 9,000 additional shares of common stock for $11 per share. June 15 Declared a cash dividend of S1,50 per share to stockholders of record on June 30 July 10 Paid the $1.50 cash dividend. December Issued 4,000 additional shares of common stock for $12 per share, December 15 Declared a cash dividend on outstanding shares of $1.60...