Homework Answers
| Date | Account Titles and Explanation | Debit | Credit | |
| Oct 1 | Dividends | $725 | (2,900 shares x $0.25 per share) | |
| Dividend Payable | $725 | |||
| (To record the declaration of cash dividends) | ||||
| Oct 15 | No Entry | - | ||
| No Entry | - | |||
| Oct 30 | Dividend Payable | $725 | ||
| Cash | $725 | |||
| (To record the payment of cash dividends) | ||||
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Divine Apparel has 2.900 shares of common stock outstanding. On October 1, the company declares a...
Brief Exercise 10-10 Record cash dividends (LO10-5) Divine Apparel has 2,700 shares of common stock outstanding....
Brief Exercise 10-10 Record cash dividends (LO10-5) Divine Apparel has 2,700 shares of common stock outstanding. On October 1, the company declares a $0.75 per share dividend to stockholders of record on October 15. The dividend is paid on October 31. Record all transactions on the appropriate dates for cash dividends. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3...
Rachel's Designs has 1,100 shares of 5%, $50 par value cumulative preferred stock issued at the...
Rachel's Designs has 1,100 shares of 5%, $50 par value cumulative preferred stock issued at the beginning of 2019. Al remaining shares are common stock. Due to cash flow difficulties, the company was not able to pay dividends in 2019 or 2020. The company plans to pay total dividends of $10,000 in 2021. How much of the $10,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders? Preferred dividends in arrears for 2019...
On June 30, the board of directors of Sandals, Inc., declares a 100% stock dividend on...
On June 30, the board of directors of Sandals, Inc., declares a 100% stock dividend on its 26,000, $1 par, common shares. The market price of Sandals common stock is $31 on June 30. Record the stock dividend. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the stock dividend. Note: Enter debits before credits. General Journal Debit Credit Transaction June 30 Nathan's...
1. 2. 3. 4. February 1 Issues 4,200 shares of no-par common stock for $15 per...
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February 1 Issues 4,200 shares of no-par common stock for $15 per share. May 15 Issues 200 shares of $10 par value, 3.5% preferred stock for $12 per share. October 1 Declares a cash dividend of $0.35 per share to all stockholders of record (both common and preferred) on October 15. October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Journal entry worksheet 2 3 4 5 Record the issuance...
On March 15, American Eagle declares a quarterly cash dividend of $0.035 per share payable on April 13 to all stockhold...
On March 15, American Eagle declares a quarterly cash dividend of $0.035 per share payable on April 13 to all stockholders of record on March 30. Required: Record American Eagle's declaration and payment of cash dividends for its 228 million shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answer in dollars, not in millions (i.e. $5.5 should be entered as 5,500,000).) View transaction list Journal entry worksheet...
On March 15, American Eagle declares a quarterly cash dividend of $0.045 per share payable on...
On March 15, American Eagle declares a quarterly cash dividend of $0.045 per share payable on April 13 to all stockholders of record on March 30 Required: Record American Eagle's declaration and payment of cash dividends for its 226 million shares (if no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field. Enter your answers in dollars, not in millions (ie. $5.5 should be entered as 5,500,000).) 04:16:55 Journal entry worksheet <...
On March 15, American Eagle declares a quarterly cash dividend of $0.035 per share payable on...
On March 15, American Eagle declares a quarterly cash dividend of $0.035 per share payable on April 13 to all stockholders of record on March 30. Required: Record American Eagle's declaration and payment of cash dividends for its 228 million shares. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions (i.e. $5.5 should be entered as 5,500,000).) View transaction list Journal entry...
Italian Stallion has the following transactions during the year related to stockholders' equity 1 Issues 4,700...
Italian Stallion has the following transactions during the year related to stockholders' equity 1 Issues 4,700 shares of no-par common stock for $16 per share. February May 15 Issues 300 shares of $10 par value, 6% preferred stock for $13 per share. October 1 Declares a cash dividend of $0.60 per share to all stockholders of record (both common and preferred) on October 15 October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Required:...
Company Z has 2.5 million shares of common stock authorized with a par value of $1...
Company Z has 2.5 million shares of common stock authorized with a par value of $1 and a market price of $60. There are 1.25 million outstanding shares and 0.3125 million shares held in treasury stock. Required: a. Prepare the journal entry if the company declares and distributes a 10% stock dividend. b. Show the effect of the 10% stock dividend on assets, liabilities, and stockholders' equity. c. Prepare the journal entry if the company declares and distributes a 100%...
On June 30, the board of directors of Sandals, Inc, declares and pays a 100% stock...
On June 30, the board of directors of Sandals, Inc, declares and pays a 100% stock dividend on its 25,000, $1 par, common shares. The market price of Sandals common stock is $30 on June 30. Record the stock dividend. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the stock dividend. Note: Enter debits before credits Transaction General Journal Debit Credit Record...
Brief Exercise 10-10 Record cash dividends (LO10-5) Divine Apparel has 2,700 shares of common stock outstanding. On October 1, the company declares a $0.75 per share dividend to stockholders of record on October 15. The dividend is paid on October 31. Record all transactions on the appropriate dates for cash dividends. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3...
Rachel's Designs has 1,100 shares of 5%, $50 par value cumulative preferred stock issued at the beginning of 2019. Al remaining shares are common stock. Due to cash flow difficulties, the company was not able to pay dividends in 2019 or 2020. The company plans to pay total dividends of $10,000 in 2021. How much of the $10,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders? Preferred dividends in arrears for 2019...
On June 30, the board of directors of Sandals, Inc., declares a 100% stock dividend on its 26,000, $1 par, common shares. The market price of Sandals common stock is $31 on June 30. Record the stock dividend. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the stock dividend. Note: Enter debits before credits. General Journal Debit Credit Transaction June 30 Nathan's...
1.
2.
3.
4.
February 1 Issues 4,200 shares of no-par common stock for $15 per share. May 15 Issues 200 shares of $10 par value, 3.5% preferred stock for $12 per share. October 1 Declares a cash dividend of $0.35 per share to all stockholders of record (both common and preferred) on October 15. October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Journal entry worksheet 2 3 4 5 Record the issuance...
On March 15, American Eagle declares a quarterly cash dividend of $0.035 per share payable on April 13 to all stockholders of record on March 30. Required: Record American Eagle's declaration and payment of cash dividends for its 228 million shares. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answer in dollars, not in millions (i.e. $5.5 should be entered as 5,500,000).) View transaction list Journal entry worksheet...
On March 15, American Eagle declares a quarterly cash dividend of $0.045 per share payable on April 13 to all stockholders of record on March 30 Required: Record American Eagle's declaration and payment of cash dividends for its 226 million shares (if no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field. Enter your answers in dollars, not in millions (ie. $5.5 should be entered as 5,500,000).) 04:16:55 Journal entry worksheet <...
On March 15, American Eagle declares a quarterly cash dividend of $0.035 per share payable on April 13 to all stockholders of record on March 30. Required: Record American Eagle's declaration and payment of cash dividends for its 228 million shares. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions (i.e. $5.5 should be entered as 5,500,000).) View transaction list Journal entry...
Italian Stallion has the following transactions during the year related to stockholders' equity 1 Issues 4,700 shares of no-par common stock for $16 per share. February May 15 Issues 300 shares of $10 par value, 6% preferred stock for $13 per share. October 1 Declares a cash dividend of $0.60 per share to all stockholders of record (both common and preferred) on October 15 October 15 Date of record. October 31 Pays the cash dividend declared on October 1. Required:...
Company Z has 2.5 million shares of common stock authorized with a par value of $1 and a market price of $60. There are 1.25 million outstanding shares and 0.3125 million shares held in treasury stock. Required: a. Prepare the journal entry if the company declares and distributes a 10% stock dividend. b. Show the effect of the 10% stock dividend on assets, liabilities, and stockholders' equity. c. Prepare the journal entry if the company declares and distributes a 100%...
On June 30, the board of directors of Sandals, Inc, declares and pays a 100% stock dividend on its 25,000, $1 par, common shares. The market price of Sandals common stock is $30 on June 30. Record the stock dividend. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the stock dividend. Note: Enter debits before credits Transaction General Journal Debit Credit Record...
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