This is intermediate accounting question about Stockholder's Equity (chp15) Gloria has 500,000 shares of $0.10 par...
This is intermediate accounting question about Stockholder's Equity (chp15)
- Gloria has 500,000 shares of $0.10 par value common stock outstanding. The following transactions occurred during the year:
- During April, Gloria declared a 10% stock dividend when the market price of the stock was $30 per share.
- During May, Gloria distributed the stock dividend.
- During June, Gloria declared a $0.30 per share cash dividend.
- During July, Gloria paid the cash dividend.
Prepare the entries for each of these transactions
Homework Answers
Journal entry
| Date | account and explanation | debit | credit |
| April | Stock dividend (500000*10%*30) | 1500000 | |
| Common Stock dividend distributable | 5000 | ||
| Paid in capital in excess of par value-Common Stock | 1495000 | ||
| (To record stock dividend declared) | |||
| May | Common Stock dividend distributable | 5000 | |
| Common Stock | 5000 | ||
| (To record distributed stock dividend) | |||
| June | Cash dividend (550000*.30) | 165000 | |
| Dividend payable | 165000 | ||
| (To record dividend declared) | |||
| July | Dividend payable | 165000 | |
| Cash | 165000 | ||
| (To record dividend paid) | |||
Add Answer to:
This is intermediate accounting question about Stockholder's
Equity (chp15)
Gloria has 500,000 shares of $0.10 par...
Gloria has 600,000 shares of $1 par value common stock outstanding. The following transactions occurred during...
Gloria has 600,000 shares of $1 par value common stock outstanding. The following transactions occurred during the year: During April, Gloria declared a 10% stock dividend when the market price of the stock was $36 per share. During May, Gloria distributed the stock dividend. During June, Gloria declared a $0.50 per share cash dividend. During July, Gloria paid the cash dividend. Prepare the entries for each of these transactions.
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...
5. The following is the intormation on Aggie Corporation's Stockholder's Equity. Stockholder's Equity December 31, 2005...
5. The following is the intormation on Aggie Corporation's Stockholder's Equity. Stockholder's Equity December 31, 2005 Common Stock (9,000 shares issued, $10 par) Additional Paid-in capital Retained Earnings TOTAL STOCKHOLDER'S EQUITY 90,000 90,000 150,000 $ 330,000 During 2006, the following transactions affecting stockholders equity were completed by Aggie Corporation: a. Jan. 4 Purchased 750 shares of its own outstanding common stock as treasury stock for $2: per share. b. Dec. 15 Dividends on common stocks were declared. Common shareholders will...
Stockholder's Equity Pald-in-Capital B%. Preferred Stock, $100 par value, cumulative, 50.000 shares Authorized, 50,000 shares issued...
Stockholder's Equity Pald-in-Capital B%. Preferred Stock, $100 par value, cumulative, 50.000 shares Authorized, 50,000 shares issued and outstanding In excess of per on preferred stock Total Paid-in-Capital from Preferred Stock $ 5.000.000 $ 5,300,000 $ $ 7.500.000 200.000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized, 300,000 shares issued and outstanding In excess of stated value on common stock Total Paid-in-Capital from Common Stock Total Paid-in-Capital Retnined Earnings (Note A) Total Stockholder's Equity $ $ $ $ 100,000...
The Russell Corporation stockholder's equity consisted of the following on 1/1/20: Stockholder's Equity Paid in Capital...
The Russell Corporation stockholder's equity consisted of the following on 1/1/20: Stockholder's Equity Paid in Capital 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...
On January 1, Oriole Corporation had 97,500 shares of no-par common stock issued and outstanding. The...
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...
Stockholders' Equity (January 1) Cormon stock-$6 par value, 100,800 shares authorized, 38,890 shares issued and outstanding...
Stockholders' Equity (January 1) Cormon stock-$6 par value, 100,800 shares authorized, 38,890 shares issued and outstanding Paid-in capital in excess of par value, connon stock Retained earnings Total stockholders' equity $189,620 140,689 340, $662,820 Stockholders' Equity (December 31) Common stock-$6 par value, 188,880 shares authorized, 35, eee shares issued, 5,eee shares in treasury Paid-in capital in excess of par value, connon stock Retained earnings (358,820 restricted by treasury stock) $21e.see 16e, see 420.889 790,820 (Se.820) $749,800 Less cost of treasury...
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...
E14-1 On January 1, Guillen Corporation had 95,000 shares of no-par common stock issued and outstanding....
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...
012-4 XERCISE 12.7 ash Dividends, Stock vidends, and Stock Splits HiTech Manufacturing Company has 1,000,000 shares...
012-4 XERCISE 12.7 ash Dividends, Stock vidends, and Stock Splits HiTech Manufacturing Company has 1,000,000 shares of $1 par value capital stock outstanding on January 1. The following equity transactions occurred during the current year: Distributed additional shares of capital stock in a 2-for-1 stock split. Market price of stock was $35 per share. Declared a cash dividend of $0.60 per share. Apr. 30 June July Aug. 1 Paid the $0.60 cash dividend to stockholders. Declared a 5 percent stock...
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...
5. The following is the intormation on Aggie Corporation's Stockholder's Equity. Stockholder's Equity December 31, 2005 Common Stock (9,000 shares issued, $10 par) Additional Paid-in capital Retained Earnings TOTAL STOCKHOLDER'S EQUITY 90,000 90,000 150,000 $ 330,000 During 2006, the following transactions affecting stockholders equity were completed by Aggie Corporation: a. Jan. 4 Purchased 750 shares of its own outstanding common stock as treasury stock for $2: per share. b. Dec. 15 Dividends on common stocks were declared. Common shareholders will...
Stockholder's Equity Pald-in-Capital B%. Preferred Stock, $100 par value, cumulative, 50.000 shares Authorized, 50,000 shares issued and outstanding In excess of per on preferred stock Total Paid-in-Capital from Preferred Stock $ 5.000.000 $ 5,300,000 $ $ 7.500.000 200.000 Common Stock, no par, $25 stated value, 1,000,000 shares authorized, 300,000 shares issued and outstanding In excess of stated value on common stock Total Paid-in-Capital from Common Stock Total Paid-in-Capital Retnined Earnings (Note A) Total Stockholder's Equity $ $ $ $ 100,000...
The Russell Corporation stockholder's equity consisted of the following on 1/1/20: Stockholder's Equity Paid in Capital 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...
Stockholders' Equity (January 1) Cormon stock-$6 par value, 100,800 shares authorized, 38,890 shares issued and outstanding Paid-in capital in excess of par value, connon stock Retained earnings Total stockholders' equity $189,620 140,689 340, $662,820 Stockholders' Equity (December 31) Common stock-$6 par value, 188,880 shares authorized, 35, eee shares issued, 5,eee shares in treasury Paid-in capital in excess of par value, connon stock Retained earnings (358,820 restricted by treasury stock) $21e.see 16e, see 420.889 790,820 (Se.820) $749,800 Less cost of treasury...
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...
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...
012-4 XERCISE 12.7 ash Dividends, Stock vidends, and Stock Splits HiTech Manufacturing Company has 1,000,000 shares of $1 par value capital stock outstanding on January 1. The following equity transactions occurred during the current year: Distributed additional shares of capital stock in a 2-for-1 stock split. Market price of stock was $35 per share. Declared a cash dividend of $0.60 per share. Apr. 30 June July Aug. 1 Paid the $0.60 cash dividend to stockholders. Declared a 5 percent stock...
Most questions answered within 3 hours.
-
If X has a normal distribution with mean µ =
12 and variance σ2 = 9,...
asked 50 seconds ago -
Electrons flow through a 2.7-mm-diameter aluminum wire at
2.5×10−4 m/s .
How many electrons move through...
asked 2 minutes ago -
For a recent year, McDonald’s (MCD)
company-owned restaurants had the following sales and expenses (in
millions):...
asked 1 minute ago -
An example of an operational taxonomic unit
(OTU) is
a. Multiple sequence alignment.
b. Protein sequence....
asked 2 minutes ago -
In a sample of 15 men, the mean height was 171 cm. In a sample
of...
asked 3 minutes ago -
In this exercise, we will be refactoring a working program. Code
refactoring is a process to...
asked 1 hour ago -
3
researchers at Cambrige looked at 5,000 firms in Englans and found
that, in terms of...
asked 1 hour ago -
why it is important and how it integrates within ERP? And what
the core challenges of...
asked 3 hours ago -
A strawberry farmer determines that the average weight of
individual strawberries produced by plants in his...
asked 3 hours ago -
Chargaff's results yielded a molar ratio of 0.400 for A to G in
avian tubercle bacillus...
asked 6 hours ago -
Which of the following binds ATP/ADP?
a. microfilaments
b. microtubules
c. intermediate filaments
d. microfilaments and...
asked 6 hours ago -
Assume that the situation can be expressed as a linear cost
function. Find the cost function....
asked 7 hours ago