Homework Answers
For a2.
You have to debit account Stock dividend distributable instead of stock dividend.
For issuing shares following entry pass
Stock dividend distributable Dr $4000
to Common Stock A/c $4000
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(280,000 shares authorized: 8,000 shares issued 850 A $400,000; Padin Capital in acest of ar-con 33.600.000. The boa...
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...
Senior Life Co. is an HMO for businesses in the Portland area. The following account balances...
Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Senior Life Co.: Common stock (380,000 shares authorized; 3,000 shares issued), $125 par, $375,000; Paid-In Capital in excess of par— common stock, $39,000; and Retained earnings, $4,500,000. The board of directors declared a 2% stock dividend when the market price of the stock was $166 a share. Senior Life Co. reported no income or loss for the current...
8% Preferred Stock, $100 par value, cumulative, 50,000 shares authorized 30,000 shares issued and outstanding 3,000,000...
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 $ 10,600,000 Total Paid-in-Capital $ 13,900,000 Retained Earnings (Note A) $ 4,100,000 Total Stockholder's Equity $...
Entries for Stock Dividends Senior Life Co. is an HMO for businesses in the Portland area....
Entries for Stock Dividends Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Senior Life Co.: Common stock (220,000 shares authorized; 7,000 shares issued), $125 par, $875,000; Paid-In Capital in excess of par common stock, $91,000; and Retained earnings, $7,000,000. The board of directors declared a 2% stock dividend when the market price of the stock was $154 a share. Senior Life Co. reported no income or...
on January 1, Brunhilde Corporation had 240.000 common shares issued. On March 17, the company declared...
on January 1, Brunhilde Corporation had 240.000 common shares issued. On March 17, the company declared a 5% stock dividend to be distributed on March 30. The market value of the shares was $7 on January 1, $9 on March 17 and $12 on March 30. 42. The journal entry to record the stock dividend declaration is: (a) Cr Mar-30 Stock dividends Dr 144000 Cash 144000 (b) Mar-30 Stock dividends 144000 Stock dividends distributable 144000 (c) Jan-01 Stock dividends 84000...
Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sh...
Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Senior Life Co.: The stock outstanding when a corporation has issued only one class of stock.Common stock (330,000 shares authorized; 5,000 shares issued), $125 A dollar amount assigned to each share of stock.par, $625,000; Capital contributed to a corporation by the stockholders and others.Paid-In Capital in excess of par— common stock, $125,000; and Net income retained in a...
On January 1, 2017, Monty Corp. had these stockholders equity accounts. Common Stock ($10 par value, 75,000 shares issued and outstanding) $750,000 523,000 620,000 Paid-in Capital in Excess...
On January 1, 2017, Monty Corp. had these stockholders equity accounts. Common Stock ($10 par value, 75,000 shares issued and outstanding) $750,000 523,000 620,000 Paid-in Capital in Excess of Par Value Retained Earnings During the year, the following transactions occurred. Jan. 15 Declared a $0.60 cash dividend per share Feb. 15 Paid the dividend dedlared in January Apr. 15 Declared a May 15 Issued the shares for the stock dividend. Dec 1 Declared a $o.50 per share cash dividend to...
On March 1, Carla Vista Ltd. had 419,000 common shares issued and the balance in its...
On March 1, Carla Vista Ltd. had 419,000 common shares issued and the balance in its Common Shares account was $628,500. The company declared a 5% stock dividend to shareholders of record on March 14, to be distributed on March 31. The fair value per share was $4 on March 1, $3.85 on March 14, and $4.35 on March 31. Prepare the entries on the appropriate dates to record the stock dividend. (Credit account titles are automatically indented when the...
Entries for Stock Dividends Healthy Life Co. is an HMO for businesses in the Fresno area....
Entries for Stock Dividends Healthy Life Co. is an HMO for businesses in the Fresno area. The following account balances appear on Healthy Life’s balance sheet: Common stock (400,000 shares authorized ; 5,000 shares issued), $100 par, $500,000; Paid-In Capital in excess of par—common stock, $100,000; and Retained earnings, $4,000,000. The board of directors declared a 1% stock dividend when the market price of the stock was $121 a share. Healthy Life reported no income or loss for the current...
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...
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...
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 $ 10,600,000 Total Paid-in-Capital $ 13,900,000 Retained Earnings (Note A) $ 4,100,000 Total Stockholder's Equity $...
Entries for Stock Dividends Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Senior Life Co.: Common stock (220,000 shares authorized; 7,000 shares issued), $125 par, $875,000; Paid-In Capital in excess of par common stock, $91,000; and Retained earnings, $7,000,000. The board of directors declared a 2% stock dividend when the market price of the stock was $154 a share. Senior Life Co. reported no income or...
on January 1, Brunhilde Corporation had 240.000 common shares issued. On March 17, the company declared a 5% stock dividend to be distributed on March 30. The market value of the shares was $7 on January 1, $9 on March 17 and $12 on March 30. 42. The journal entry to record the stock dividend declaration is: (a) Cr Mar-30 Stock dividends Dr 144000 Cash 144000 (b) Mar-30 Stock dividends 144000 Stock dividends distributable 144000 (c) Jan-01 Stock dividends 84000...
On January 1, 2017, Monty Corp. had these stockholders equity accounts. Common Stock ($10 par value, 75,000 shares issued and outstanding) $750,000 523,000 620,000 Paid-in Capital in Excess of Par Value Retained Earnings During the year, the following transactions occurred. Jan. 15 Declared a $0.60 cash dividend per share Feb. 15 Paid the dividend dedlared in January Apr. 15 Declared a May 15 Issued the shares for the stock dividend. Dec 1 Declared a $o.50 per share cash dividend to...
On March 1, Carla Vista Ltd. had 419,000 common shares issued and the balance in its Common Shares account was $628,500. The company declared a 5% stock dividend to shareholders of record on March 14, to be distributed on March 31. The fair value per share was $4 on March 1, $3.85 on March 14, and $4.35 on March 31. Prepare the entries on the appropriate dates to record the stock dividend. (Credit account titles are automatically indented when the...
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