Beach Corp has 10,000 outstanding shares of common stock (Par value of $1) and decides to...
Beach Corp has 10,000 outstanding shares of common stock (Par value of $1) and decides to issue a 4% stock dividend. At the date of declaration, the stock is trading for $15 per share. Calculate the total value of the dividend.
Group of answer choices
A $400
B $150,000
C The value is $0 because no cash is distributed.
D $6,000
Homework Answers
A company declares dividend on the par value /(face value ) of the share .therefore it's required to understand that the market value/(current market price ) doesnot have any significance in the calculation of dividend declaration
In the given question,
Total shares outstanding is 10000 which has a par value of 1$
Therefore total par value of the outstanding common stock is 10000x1$=10000$
As i have earlier mentioned , dividend is declared on the par value and in the given question it is 4%
Therefore ,1$x4%=0.04$
10000 shares x 0.04$ (dividend per share ) = 400$
So ,summing up the value of dividend is 400$
choice (A) id thr answer
Add Answer to:
Beach Corp has 10,000 outstanding shares of common stock (Par
value of $1) and decides to...
ABC Corp. has 500,000 shares of P10 par ordinary share capital outstanding as of October 1,...
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...
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...
AMP Corp. has outstanding 200,000 shares of $20 par value common stock. AMP declares a 10%...
AMP Corp. has outstanding 200,000 shares of $20 par value common stock. AMP declares a 10% stock dividend when the fair value of the stock is $30. The journal entries to record this declaration and payment of the stock dividend would be:
Cheyenne Corporation has outstanding 358,000 shares of $10 par value common stock. The corporation declares a...
Cheyenne Corporation has outstanding 358,000 shares of $10 par value common stock. The corporation declares a 100% stock dividend when the fair value of the stock is $62 per share. Prepare the journal entries for both the date of declaration and the date of distribution. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Cheyenne Corporation has...
Supreme Water Sports has 12,000 shares of $3 par value common stock outstanding. Supreme distributes a...
Supreme Water Sports has 12,000 shares of $3 par value common stock outstanding. Supreme distributes a 15% stock dividend when the market value of its stock is $18 per share Read the requiremegts. Requirement 1. Journalize Supreme's declaration of the stock dividend on September 15 and distribution on September 30. (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Start by journalizing the declaration of 1 0 Requirements Date Sep. 15 1....
Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10%...
Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Perry Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 30% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Prepare the necessary entries for the declaration and...
On January 1, Flounder Corp. had 61,500 shares of no-par common stock issued and outstanding. The stock has a stated val...
On January 1, Flounder Corp. had 61,500 shares of no-par common
stock issued and outstanding. The stock has a stated value of $4
per share. During the year, the following transactions
occurred.
Apr. 1
Issued 11,700 additional shares of common stock for $12 per
share.
June 15
Declared a cash dividend of $1.90 per share to stockholders of
record on June 30.
July 10
Paid the $1.90 cash dividend.
Dec. 1
Issued 5,200 additional shares of common stock for $13...
On January 1, Ayayai Corp. had 61,000 shares of no-par common stock issued and outstanding. The...
On January 1, Ayayai Corp. had 61,000 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following transactions occurred. Apr. 1 Issued 9,450 additional shares of common stock for $11 per share. June 15 Declared a cash dividend of $1.50 per share to stockholders of record on June 30. July 10 Paid the $1.50 cash dividend. Dec. 1 Issued 4,200 additional shares of common stock for $11...
Perry Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 30%...
Perry Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 30% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Prepare the necessary entries for the declaration and payment of the stock dividend. Date Account Debit Credit
Martial Arts Schools, Inc. is authorized to issue 200,000 shares of $1 par common stock. The...
Martial Arts Schools, Inc. is authorized to issue 200,000 shares of $1 par common stock. The company issued 75,000 shares at $6 per share. When the market price of common stock was $8 per share, Martial Arts declared and distributed a 14% stock dividend. Later, Martial Arts declared and paid a $0.80 per share cash dividend Read the requirements Common SIOUX LIVIDEN IS Date 2 IUUU Common Stock-$1 Par Value 21000 Issued 14% stock dividend Requirement 2. Journalize the declaration...
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...
Cheyenne Corporation has outstanding 358,000 shares of $10 par value common stock. The corporation declares a 100% stock dividend when the fair value of the stock is $62 per share. Prepare the journal entries for both the date of declaration and the date of distribution. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Cheyenne Corporation has...
Supreme Water Sports has 12,000 shares of $3 par value common stock outstanding. Supreme distributes a 15% stock dividend when the market value of its stock is $18 per share Read the requiremegts. Requirement 1. Journalize Supreme's declaration of the stock dividend on September 15 and distribution on September 30. (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Start by journalizing the declaration of 1 0 Requirements Date Sep. 15 1....
On January 1, Flounder Corp. had 61,500 shares of no-par common
stock issued and outstanding. The stock has a stated value of $4
per share. During the year, the following transactions
occurred.
Apr. 1
Issued 11,700 additional shares of common stock for $12 per
share.
June 15
Declared a cash dividend of $1.90 per share to stockholders of
record on June 30.
July 10
Paid the $1.90 cash dividend.
Dec. 1
Issued 5,200 additional shares of common stock for $13...
Perry Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 30% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Prepare the necessary entries for the declaration and payment of the stock dividend. Date Account Debit Credit
Martial Arts Schools, Inc. is authorized to issue 200,000 shares of $1 par common stock. The company issued 75,000 shares at $6 per share. When the market price of common stock was $8 per share, Martial Arts declared and distributed a 14% stock dividend. Later, Martial Arts declared and paid a $0.80 per share cash dividend Read the requirements Common SIOUX LIVIDEN IS Date 2 IUUU Common Stock-$1 Par Value 21000 Issued 14% stock dividend Requirement 2. Journalize the declaration...
Most questions answered within 3 hours.
-
Write a program to solve the Josephus problem, with the following
modification:
Sample Input:
./a.out n...
asked 6 seconds from now -
At the start of a CD it is spinning at a rate of 525 rpm
(revolutions...
asked 35 minutes ago -
4. Without doing any calculations, predict whether the observed
∆T would increase, decrease or remain the...
asked 1 hour ago -
Based on the range, which of the following sets of scores has
the greatest variability? 3,...
asked 2 hours ago -
Ripples in a pond travel at a velocity of 3 m/s with one peak
passing a...
asked 2 hours ago -
A man stands on the roof of a building of height 13.0 mm and
throws a...
asked 2 hours ago -
The extent to which assets are financed by borrowed funds and
other liabilities is indicated by:...
asked 3 hours ago -
Explain in detail
Germany is the fifth largest economy
explain what goods and services Germany specializes...
asked 4 hours ago -
The density of platinum is 21.45 g/mL. If a cube of platinum
with a mass of...
asked 4 hours ago -
Accounts Receivable
Sales
A/R Posting
Extended Sales Invoice
Packing Slip
Compare invoice to packing slip 2...
asked 4 hours ago -
Michaella, age 23, is a full-time law student and is claimed by
her parents as a...
asked 4 hours ago -
Why are polymers not typically casted into products?
asked 4 hours ago