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Pettygrove Company had 600,000 shares of $10 par value common stock outstanding. The amount of additional...
On September 1, Ziegler Corporation had 73,000 shares of $5 par value common stock, and $219,000...
On September 1, Ziegler Corporation had 73,000 shares of $5 par value common stock, and $219,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. The general Journal entry to record this transaction is: Multiple Choice Debit Retained Earnings $1,095,000; credit Common Stock $1,095,000. 0 No entry is made for this transaction O Debit Retained Earnings $365,000 Credit Common Stock $365.000 0 0 Debit Retained...
On September 1, Ziegler Corporation had 50,000 shares of $5 par value common stock, and $1,500,000...
On September 1, Ziegler Corporation had 50,000 shares of $5 par value common stock, and $1,500,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. The general journal entry to record this transaction is: Multiple Choice Debit Retained Earnings $750,000; credit Common Stock Split Distributable $750,000. Debit Retained Earnings $750,000; credit Common Stock $750,000. Debit Retained Earnings $250,000; credit Common Stock $250,000. Debit Retained Earnings...
Robinson's has 46,000 shares of stock outstanding with a par value of $1 per share and...
Robinson's has 46,000 shares of stock outstanding with a par value of $1 per share and a market price of $52 a share. The balance sheet shows $46,000 in the common stock account, $515,000 in the paid in surplus account, and $530,000 in the retained earnings account. The firm just announced a 2-for-1 stock split. How many shares of stock will be outstanding after the split? Multiple Choice 0 46,000 shares 0 23,000 shares 0 92,000 shares 0 91,500 shares...
On September 1, Ziegler Corporation had 75,000 shares of $5 par value common stock, and $225,000...
On September 1, Ziegler Corporation had 75,000 shares of $5 par value common stock, and $225,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. The general journal entry to record this transaction is: Multiple Choice Debit Retained Earnings $1125,000 credit Common Stock $425,000 o Debit Retained Earnings $375,000 credit Common Stock $375,000 o No entry is made for this transaction Debit Retained Earnings $125.000...
Mason Manufacturing had 600,000 shares of common stock outstanding and 150,000 shares of $100 par value...
Mason Manufacturing had 600,000 shares of common stock outstanding and 150,000 shares of $100 par value preferred stock outstanding January 1, 2017. An additional 120,000 shares of common stock were issued on August 1 and 24,000 common shares were repurchased and retired on December 1. Mason's preferred stock is not convertible into common shares. Required: Calculate the weighted average number of common shares outstanding for purposes of computing Mason's 2017 basic earnings per share. (Amounts to be deducted should be...
On July 1, Davidson Corporation had the following capital structure Common stock ($3 par value) Additional...
On July 1, Davidson Corporation had the following capital structure Common stock ($3 par value) Additional paid-in capital Retained earnings Treasury stock S 660,000 1,040,000 850,000 Required Complete the table below for each of the two following independent cases: (Round "Par value per share" answers to 2 decimal places.) Case 1: The board of directors declared and issued a 40 percent stock dividend when the stock was selling at $5 per share Case 2: The board of directors announced a...
When a company issues 38,000 shares of $2 par value common stock for $20 per share,...
When a company issues 38,000 shares of $2 par value common stock for $20 per share, the journal entry for this issuance would include: Multiple Choice A debit to Additional Paid-in Capital for $76,000. A debit to Cash for $76,000. A credit to Common Stock for $760,000. A credit to Additional Paid-in Capital for $684,000 < Prev 2 of 19 Next>
Eastline Corporation had 14,000 shares of $10 par value common stock outstanding when the board of...
Eastline Corporation had 14,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 5,320 shares. At the time of the stock dividend, the market value per share was $20. The entry to record this dividend is: Multiple Cholce No entry Is needed. Debit Retained Earnings $106,400; credit Common Stock DIvidend Distributable $106.40o. Deblt Retalned Earnings $106,400; credit Common Stock DIvidend Distributable $53,200; credit Pald-In Capltal in Excess of Par Value, Common...
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...
Pearce & Company has 10 million shares of $2 par value common stock outstanding. The company...
Pearce & Company has 10 million shares of $2 par value common stock outstanding. The company believes that its current market price of $100 per share is too high and decides to execute a 4-for-1 forward stock split to lower the price. How many shares will be outstanding following the stock split, and what will be the new par value per share?
On September 1, Ziegler Corporation had 73,000 shares of $5 par value common stock, and $219,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. The general Journal entry to record this transaction is: Multiple Choice Debit Retained Earnings $1,095,000; credit Common Stock $1,095,000. 0 No entry is made for this transaction O Debit Retained Earnings $365,000 Credit Common Stock $365.000 0 0 Debit Retained...
Robinson's has 46,000 shares of stock outstanding with a par value of $1 per share and a market price of $52 a share. The balance sheet shows $46,000 in the common stock account, $515,000 in the paid in surplus account, and $530,000 in the retained earnings account. The firm just announced a 2-for-1 stock split. How many shares of stock will be outstanding after the split? Multiple Choice 0 46,000 shares 0 23,000 shares 0 92,000 shares 0 91,500 shares...
On September 1, Ziegler Corporation had 75,000 shares of $5 par value common stock, and $225,000 of retained earnings. On that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. The general journal entry to record this transaction is: Multiple Choice Debit Retained Earnings $1125,000 credit Common Stock $425,000 o Debit Retained Earnings $375,000 credit Common Stock $375,000 o No entry is made for this transaction Debit Retained Earnings $125.000...
Mason Manufacturing had 600,000 shares of common stock outstanding and 150,000 shares of $100 par value preferred stock outstanding January 1, 2017. An additional 120,000 shares of common stock were issued on August 1 and 24,000 common shares were repurchased and retired on December 1. Mason's preferred stock is not convertible into common shares. Required: Calculate the weighted average number of common shares outstanding for purposes of computing Mason's 2017 basic earnings per share. (Amounts to be deducted should be...
On July 1, Davidson Corporation had the following capital structure Common stock ($3 par value) Additional paid-in capital Retained earnings Treasury stock S 660,000 1,040,000 850,000 Required Complete the table below for each of the two following independent cases: (Round "Par value per share" answers to 2 decimal places.) Case 1: The board of directors declared and issued a 40 percent stock dividend when the stock was selling at $5 per share Case 2: The board of directors announced a...
When a company issues 38,000 shares of $2 par value common stock for $20 per share, the journal entry for this issuance would include: Multiple Choice A debit to Additional Paid-in Capital for $76,000. A debit to Cash for $76,000. A credit to Common Stock for $760,000. A credit to Additional Paid-in Capital for $684,000 < Prev 2 of 19 Next>
Eastline Corporation had 14,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 5,320 shares. At the time of the stock dividend, the market value per share was $20. The entry to record this dividend is: Multiple Cholce No entry Is needed. Debit Retained Earnings $106,400; credit Common Stock DIvidend Distributable $106.40o. Deblt Retalned Earnings $106,400; credit Common Stock DIvidend Distributable $53,200; credit Pald-In Capltal in Excess of Par Value, Common...
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...
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