Homework Answers
1) Journal entry
| Date | account and explanation | Debit | Credit |
| June 1 | Stock dividend | 26000 | |
| Common Stock dividend distributable | 26000 | ||
| (To record stock dividend declared) | |||
2) Preferred dividend = 1000*100*7% = 7000
| Cumulative | Non Cumulative | |
| Preferred dividend in Arrears for 2020 | 7000 | 0 |
| Preferred dividend for 2021 | 7000 | 7000 |
| Remaining dividend to Common Stockholders | 1000 | 8000 |
| Total dividend | 15000 | 15000 |
Add Answer to:
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 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...
Nathan's Athletic Apparel has 1,800 shares of 7%, $100 par value preferred stock the company issued...
Nathan's Athletic Apparel has 1,800 shares of 7%, $100 par value preferred stock the company issued at the beginning of 2020. All remaining shares are common stock. The company was not able to pay dividends in 2020, but plans to pay dividends of $27,000 in 2021 Required: 1. & 2. How much of the $27,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders in 2021, assuming the preferred stock is cumulative? What...
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...
Nathan's Athletic Apparel has 1,700 shares of 5% , $100 par value preferred stock the company...
Nathan's Athletic Apparel has 1,700 shares of 5% , $100 par value preferred stock the company issued at the beginning of 2017 All remaining shares are common stock The company was not able to pay dividends in 2017, but plans to pay dividends of $18,000 in 2018. Required: 1. & 2. Ansuming the preferred stock is cumulative and noncumulative, how much of the $18,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders...
Equinox Outdoor Wear issues 1,000 shares of its $0.01 par value preferred stock for cash at...
Equinox Outdoor Wear issues 1,000 shares of its $0.01 par value preferred stock for cash at $15 per share. Record the issuance of the preferred shares. (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 issuance of preferred stock. Note: Enter debits before credits. Transaction General Journal Debit Credit Rachel's Designs has 1,800 shares of 5%, $50 par value cumulative preferred stock...
Nathan's Athletic Apparel has 2,000 shares of 6%, $100 par value preferred stock the company issued...
Nathan's Athletic Apparel has 2,000 shares of 6%, $100 par value preferred stock the company issued at the beginning of 2017. All remaining shares are common stock. The company was not able to pay dividends in 2017, but plans to pay dividends of $25,000 in 2018. Required: 1. & 2. Assuming the preferred stock is cumulative and noncumulative, how much of the $25,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders in...
On September 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend on...
On September 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend on its 22,000, $13 par, common shares. The market price of the common stock is $42 on this date. Required: 1. 2. & 3. Record the necessary journal entries assuming a small (10%) stock dividend, a large (100%) stock dividend, and a 2-for-1 stock split. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View...
On June 13, the board of directors of Siewert Inc. declared a 6% stock dividend on...
On June 13, the board of directors of Siewert Inc. declared a 6% stock dividend on its 50 million, $2 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $33 on June 13 Complete the below table to calculate the stock dividend. Prepare a journal entry that summarizes the declaration and distribution of the stock dividend. Complete this question by entering your answers in the tabs below. Stock Dividend General Journal Complete...
On June 13, the board of directors of Siewert Inc, declared a 2-for-1 stock split on...
On June 13, the board of directors of Siewert Inc, declared a 2-for-1 stock split on its 120 million, $5 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $23 on June 13 Prepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. What is the par per share after the split? Complete this question by entering your answers...
On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on...
On June 13, the board of directors of Siewert Inc. declared a
2-for-1 stock split on its 60 million, $1.00 par, common shares, to
be distributed on July 1. The market price of Siewert common stock
was $25 on June 13.
Prepare the journal entry to record the stock split if it is to be
effected in the form of a 100% stock dividend. What is the par per
share after the split?
PLEASE NOTE = $.50 and $12.50
were...
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...
Nathan's Athletic Apparel has 1,800 shares of 7%, $100 par value preferred stock the company issued at the beginning of 2020. All remaining shares are common stock. The company was not able to pay dividends in 2020, but plans to pay dividends of $27,000 in 2021 Required: 1. & 2. How much of the $27,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders in 2021, assuming the preferred stock is cumulative? What...
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...
Nathan's Athletic Apparel has 1,700 shares of 5% , $100 par value preferred stock the company issued at the beginning of 2017 All remaining shares are common stock The company was not able to pay dividends in 2017, but plans to pay dividends of $18,000 in 2018. Required: 1. & 2. Ansuming the preferred stock is cumulative and noncumulative, how much of the $18,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders...
Equinox Outdoor Wear issues 1,000 shares of its $0.01 par value preferred stock for cash at $15 per share. Record the issuance of the preferred shares. (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 issuance of preferred stock. Note: Enter debits before credits. Transaction General Journal Debit Credit Rachel's Designs has 1,800 shares of 5%, $50 par value cumulative preferred stock...
Nathan's Athletic Apparel has 2,000 shares of 6%, $100 par value preferred stock the company issued at the beginning of 2017. All remaining shares are common stock. The company was not able to pay dividends in 2017, but plans to pay dividends of $25,000 in 2018. Required: 1. & 2. Assuming the preferred stock is cumulative and noncumulative, how much of the $25,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders in...
On September 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend on its 22,000, $13 par, common shares. The market price of the common stock is $42 on this date. Required: 1. 2. & 3. Record the necessary journal entries assuming a small (10%) stock dividend, a large (100%) stock dividend, and a 2-for-1 stock split. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View...
On June 13, the board of directors of Siewert Inc. declared a 6% stock dividend on its 50 million, $2 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $33 on June 13 Complete the below table to calculate the stock dividend. Prepare a journal entry that summarizes the declaration and distribution of the stock dividend. Complete this question by entering your answers in the tabs below. Stock Dividend General Journal Complete...
On June 13, the board of directors of Siewert Inc, declared a 2-for-1 stock split on its 120 million, $5 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $23 on June 13 Prepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. What is the par per share after the split? Complete this question by entering your answers...
On June 13, the board of directors of Siewert Inc. declared a
2-for-1 stock split on its 60 million, $1.00 par, common shares, to
be distributed on July 1. The market price of Siewert common stock
was $25 on June 13.
Prepare the journal entry to record the stock split if it is to be
effected in the form of a 100% stock dividend. What is the par per
share after the split?
PLEASE NOTE = $.50 and $12.50
were...
Most questions answered within 3 hours.
-
1. What are specialty engines? ( )
a. Logical Processors that perform specialized functions
b. An...
asked 9 minutes ago -
a. What double precision floating point
number is represented by the following 64-bit binary? Show your...
asked 1 hour ago -
Indicate whether the statement is true or false
(1-20).
1)A good time management plan will eliminate...
asked 1 hour ago -
Which one of the following will occur when the internal rate of
return equals the required...
asked 2 hours ago -
The mean value of land and buildings per acre from a sample of
farms is $1800,...
asked 2 hours ago -
The Hotel Conneautis considering 3 the
following capital budgeting projects
The Hotel Conneaut has internal funind for...
asked 2 hours ago -
Which of the following is NOT a product of the first step in the
p-p chain...
asked 2 hours ago -
The chance that UPS will deliver a package to a customer within
X days is normally...
asked 2 hours ago -
3Cu(NO3)2(aq) + 2Al(s) ---> 3Cu(s) + 2Al(NO3)3(aq) if you
have 32 moles of aluminum, what is...
asked 2 hours ago -
Four 100 micro Farads capacitors are connected in parallel, the
equivalent capacitance of these four capacitors...
asked 2 hours ago -
What is the pH of a 3% solution of atropine sulfate knowing that
the molecular weight...
asked 2 hours ago -
A company has current assets of
$90,000 and its current ratio is 2.5. Assume that the...
asked 2 hours ago