Homework Answers
| No. | Account Titles and Explanation | Debit | Credit | |
| a. | Retained earnings/Stock dividends | 487620 | =(148500+45000)*14%*18 | |
| Stock dividend distributable | 270900 | =(148500+45000)*14%*10 | ||
| Paid in capital in excess of par-Common Stock | 216720 | |||
| b. | Retained earnings/Stock dividends | 541800 | =(148500+45000)*14%*20 | |
| Stock dividend distributable | 135450 | =(148500+45000)*14%*5 | ||
| Paid in capital in excess of par-Common Stock | 406350 | |||
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On January 1, 2020, Splish Brothers Inc. had $1,485,000 of common stock outstanding that was issued at par. 1t also...
On January 1, 2020, Blossom Corporation had $1,485,000 of common stock outstanding that was issued at par. It also had...
On January 1, 2020, Blossom Corporation had $1,485,000 of common stock outstanding that was issued at par. It also had retained earnings of $751,000. The company issued 45,000 shares of common stock at par on July 1 and earned net income of $390,000 for the year. Journalize the declaration of a 14% stock dividend on December 10, 2020, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry...
Exercise 14-03 a-b (Video) On January 1, 2020, Blossom Corporation had $1,000,000 of common stock outstanding...
Exercise 14-03 a-b (Video) On January 1, 2020, Blossom Corporation had $1,000,000 of common stock outstanding that was issued at par. It also had retained earnings of $740,000. The company issued 35,000 shares of common stock at par on July 1 and earned net income of $390,000 for the year. Journalize the declaration of a 14% stock dividend on December 10, 2020, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent...
Exercise 11-14 (Video) On January 1, 2020, Cheyenne Corp. had $1,065,000 of common stock outstanding that...
Exercise 11-14 (Video) On January 1, 2020, Cheyenne Corp. had $1,065,000 of common stock outstanding that was issued at par. It also had retained earnings of $748,500. The company issued 39,000 shares of common stock at par on July 1 and earned net income of $395,000 for the year. Journalize the declaration of a 16% stock dividend on December 10, 2020, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually....
Exercise 14-03a-b (Video) On January 1, 2020, Ivanhoe Corporation had $1,010,000 of common stock outstanding that...
Exercise 14-03a-b (Video) On January 1, 2020, Ivanhoe Corporation had $1,010,000 of common stock outstanding that was issued at par. It also had retained earnings of $747,000. The company issued 37,500 shares of common stock at par on July 1 and earned net income of $405,000 for the year. Journalize the declaration of a 14% stock dividend on December 10, 2020, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. De not indent manually....
Exercise 14-03 a-b (Video) On January 1, 2020, Sunland Corporation had $1,445,000 of common stock outstanding...
Exercise 14-03 a-b (Video) On January 1, 2020, Sunland Corporation had $1,445,000 of common stock outstanding that was issued at par. It also had retained earnings of $743,500. The company issued 35,500 shares of common stock at par on July 1 and earned net income of $395,000 for the year. Journalize the declaration of a 14% stock dividend on December 10, 2020, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent...
On January 1, 2022, Monty Corp. had $1,160,000 of common stock outstanding that was issued at...
On January 1, 2022, Monty Corp. had $1,160,000 of common stock outstanding that was issued at par and retained earnings of $811,000. The company issued 38,000 shares of common stock at par on July 1 and earned net income of $495,000 for the year. Journalize the declaration of a 17% stock dividend on December 10, 2022, for the following two independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is...
Bercise 14-03-b (Video) On January 1, 2020, Pharoah Corporation had $1,100,000 of common stock outstanding that was...
Bercise 14-03-b (Video) On January 1, 2020, Pharoah Corporation had $1,100,000 of common stock outstanding that was issued at par. It also had retained earnings of $742,500. The company issued 41,000 shares of common stock at par on July 1 and eamed net income of $405,000 for the year Journalize the declaration of a 15% stock dividend on December 10, 2020, for the following independent assumptions. (Credit account s are automatically indented when amount is entered. Do not indent manually....
On July 1. Splish Brothers Inc, purchases 580 shares of its 55 par value common stock...
On July 1. Splish Brothers Inc, purchases 580 shares of its 55 par value common stock for the treasury at a cash price of $10 per share Journalize the treasury stock transaction. Credit account titles are automatically indented when amount amounts entered. Do not indent manually. If no entry is required, select "No Entry for the account tities and enter for the Account Titles and Explanation Debit
On January 1, 2020, Splish Brothers Inc. had the following stockholders' equity accounts. Common Stock ($10...
On January 1, 2020, Splish Brothers Inc. had the following stockholders' equity accounts. Common Stock ($10 par value, 80,300 shares issued and outstanding) $803,000 Pald-in Capital in Excess of Par-Common Stock 215,000 Retained Earnings 536,000 During the year, the following transactions occurred. Jan 15 Declared a $1.10 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...
Exercise 11-21 On January 1, 2022, Riverbed Corp had $1,240,000 of common stock outstanding that was...
Exercise 11-21 On January 1, 2022, Riverbed Corp had $1,240,000 of common stock outstanding that was issued at par and retained earnings of $712,000. The company issued 27,000 shares of common stock at par on July 1 and earned net income of $511,000 for the year. Journalize the declaration of a 16% stock dividend on December 10, 2022, for the following two independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no...
On January 1, 2020, Blossom Corporation had $1,485,000 of common stock outstanding that was issued at par. It also had retained earnings of $751,000. The company issued 45,000 shares of common stock at par on July 1 and earned net income of $390,000 for the year. Journalize the declaration of a 14% stock dividend on December 10, 2020, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry...
Exercise 11-14 (Video) On January 1, 2020, Cheyenne Corp. had $1,065,000 of common stock outstanding that was issued at par. It also had retained earnings of $748,500. The company issued 39,000 shares of common stock at par on July 1 and earned net income of $395,000 for the year. Journalize the declaration of a 16% stock dividend on December 10, 2020, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually....
Exercise 14-03a-b (Video) On January 1, 2020, Ivanhoe Corporation had $1,010,000 of common stock outstanding that was issued at par. It also had retained earnings of $747,000. The company issued 37,500 shares of common stock at par on July 1 and earned net income of $405,000 for the year. Journalize the declaration of a 14% stock dividend on December 10, 2020, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. De not indent manually....
Exercise 14-03 a-b (Video) On January 1, 2020, Sunland Corporation had $1,445,000 of common stock outstanding that was issued at par. It also had retained earnings of $743,500. The company issued 35,500 shares of common stock at par on July 1 and earned net income of $395,000 for the year. Journalize the declaration of a 14% stock dividend on December 10, 2020, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent...
Bercise 14-03-b (Video) On January 1, 2020, Pharoah Corporation had $1,100,000 of common stock outstanding that was issued at par. It also had retained earnings of $742,500. The company issued 41,000 shares of common stock at par on July 1 and eamed net income of $405,000 for the year Journalize the declaration of a 15% stock dividend on December 10, 2020, for the following independent assumptions. (Credit account s are automatically indented when amount is entered. Do not indent manually....
On July 1. Splish Brothers Inc, purchases 580 shares of its 55 par value common stock for the treasury at a cash price of $10 per share Journalize the treasury stock transaction. Credit account titles are automatically indented when amount amounts entered. Do not indent manually. If no entry is required, select "No Entry for the account tities and enter for the Account Titles and Explanation Debit
On January 1, 2020, Splish Brothers Inc. had the following stockholders' equity accounts. Common Stock ($10 par value, 80,300 shares issued and outstanding) $803,000 Pald-in Capital in Excess of Par-Common Stock 215,000 Retained Earnings 536,000 During the year, the following transactions occurred. Jan 15 Declared a $1.10 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...
Exercise 11-21 On January 1, 2022, Riverbed Corp had $1,240,000 of common stock outstanding that was issued at par and retained earnings of $712,000. The company issued 27,000 shares of common stock at par on July 1 and earned net income of $511,000 for the year. Journalize the declaration of a 16% stock dividend on December 10, 2022, for the following two independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no...
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