Homework Answers
1.170000-
Company has currently 190000 outstanding shares out of 200000 shares which means 10000 shares as treasury stocks. If company purchases treasury stocks(buyback its own shares) then treasury stocks will be 30000. Hence outstanding shares are 170000(200000-30000).
2. Bonds- in case of interest. Dividends- in case of shares.
Bonds take presecende over shares.
Interest payments on bonds are payable before tax.
Dividend payment on preferred shares are payable after tax.
Hence bonds in case of interest payments. Preferred stock in case of dividends over common stock.
3. Par Value of shares issued.
If new shares are to be issued more than 25%( large stock dividends) then debit dividend value to the par value of shares issued.
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a company currently has 200,000 shares issued and 190,000 shares outstanding. if the company purchases 20.000...
The following data were reported by a corporation: Authorized shares 36,000 Issued shares 31,000 Treasury shares...
The following data were reported by a corporation: Authorized shares 36,000 Issued shares 31,000 Treasury shares 11,500 The number of outstanding shares is: Multiple Choice 31,000. Ο 19,500. Ο 36,000. The number of outstanding shares is: Multiple Choice o 31,000. o 19,500. o 36,000. o 47,500. o 24,500. Mayan Company had net income of $30,780. The weighted-average common shares outstanding were 8,100. The company declared a $2,800 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions....
the par value of shares issued is normally recorded in t The par value of shares issued is normally recorded in th...
the par value of shares issued is normally recorded in t
The par value of shares issued is normally recorded in the Multiple Choice Additional Paid-in Capital account C) Common Stock account. ) Retained Earnings account. O Treasury Stock account. < Prey 8 of 30 !!! Next > GES A noncash asset that is distributed to stockholders is referred to as a: Multiple Choice O Treasury dividend. Property dividend. Preferred dividend. Real dividend < Prev 70 30 | Next >
The issuer of a 5% common stock dividend (small stock dividend) to common stockholders should debit...
The issuer of a 5% common stock dividend (small stock dividend) to common stockholders should debit stock dividends for an amount equal to the Multiple Choice Book value of the shares issued O Par or stated value of the shares issued Market value of the shares issued. Minimum legal requirements < Prev 30 of 30 !!! On June 1, the board of directors declares a cash dividend to be paid on June 30 to stockholders of record on June 15....
Mayan Company had net income of $33,580. The weighted-average common shares outstanding were 9,200. The company...
Mayan Company had net income of $33,580. The weighted-average common shares outstanding were 9,200. The company has no preferred stock. The company's earnings per share is: Multiple Choice $5.00 $3.71. $3.59 $1.39. $3.65 Authorized shares 28,000 Issued shares 23,000 7,500 Treasury shares The number of outstanding shares is: Multiple Choice 28,000. 35,500 23,000. 20,500. Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 24,000 shares authorized 11,400 shares issued, and 9,600 shares of...
A corporation issued 240 shares of its $5 par value common stock in payment of a...
A corporation issued 240 shares of its $5 par value common stock in payment of a $3.200 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include: Save & E Murile Choice A$200 C A 1200 Organogenes A $2.000 credit to Paid in Capital Escess of Par Valve Common Stock A $1.200 biso Legal Expenses A $1.200 credit to Common Stock Fetzer Company declared a $0.35 per share cash...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED (24 points) Prepare journal entries to record the following (round to nearest dollar.) Jan. 3, 2020 Issued 15,000 shares for $15 per share Jan 15 Purchased 5,000 shares of treasury stock at $17 Jan 22 Declared a dividend of $1.50 per share on the outstanding shares of common stock. Feb. 8 Paid the dividend declared on January 22. Sep. 1 Declared a 5% stock...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED (24 points) Prepare journal entries to record the following (round to nearest dollar.) Jan. 3, 2020 Issued 15,000 shares for $15 per share Jan 15 Purchased 5,000 shares of treasury stock at $17 Jan 22 Declared a dividend of $1.50 per share on the outstanding shares of common stock. Feb. 8 Paid the dividend declared on January 22. Sep. 1 Declared a 5% stock...
Question 5 4 pts Snowman Company has issued 75,000 shares of $1 par, 6%, cumulative preferred...
Question 5 4 pts Snowman Company has issued 75,000 shares of $1 par, 6%, cumulative preferred stock. Preferred dividends are three years in arrears. Snowman Company has 200,000 shares of $0.50 par common stock issued and 50,000 shares of treasury stock. Total dividends declared in the current year are. $240,000. What is the dividend per share that common stockholders will receive (round to two decimals)? $1.10 $1.18 $1.48 O $1.57 O None of the above.
35) Burkert Company has 50,000 shares of $1 par value common stock issued and outstanding. The...
35) Burkert Company has 50,000 shares of $1 par value common stock issued and outstanding. The company also has 9000 shares of $100 par value, 4% cumulative preferred stock outstanding. Burkert did not pay the preferred dividends in 2016 and 2017. For the common stockholders to receive a dividend in 2018, the board of directors must declare dividends in excess of A) $108,000. B) $72,000 C) $36,000 D) $144,000
Anthem Inc. issues 200,000 shares of stock with a par value of $0.03 for $152 per...
Anthem Inc. issues 200,000 shares of stock with a par value of $0.03 for $152 per share. Three years later, it repurchases these shares for $82 per share. Anthem records the repurchase in which of the following ways? Multiple Choice Debt Stockholders' Equity for $30.40 million credit Additional Paid in Capital for $15.40 million and credit Cash for $16.40 million Debit Common Stock for $6,000, debit Additional Paid-in Capital for $16,394 000 and credit Cash for $16.40 million Oo oo...
The following data were reported by a corporation: Authorized shares 36,000 Issued shares 31,000 Treasury shares 11,500 The number of outstanding shares is: Multiple Choice 31,000. Ο 19,500. Ο 36,000. The number of outstanding shares is: Multiple Choice o 31,000. o 19,500. o 36,000. o 47,500. o 24,500. Mayan Company had net income of $30,780. The weighted-average common shares outstanding were 8,100. The company declared a $2,800 dividend on its noncumulative, nonparticipating preferred stock. There were no other stock transactions....
the par value of shares issued is normally recorded in t
The par value of shares issued is normally recorded in the Multiple Choice Additional Paid-in Capital account C) Common Stock account. ) Retained Earnings account. O Treasury Stock account. < Prey 8 of 30 !!! Next > GES A noncash asset that is distributed to stockholders is referred to as a: Multiple Choice O Treasury dividend. Property dividend. Preferred dividend. Real dividend < Prev 70 30 | Next >
The issuer of a 5% common stock dividend (small stock dividend) to common stockholders should debit stock dividends for an amount equal to the Multiple Choice Book value of the shares issued O Par or stated value of the shares issued Market value of the shares issued. Minimum legal requirements < Prev 30 of 30 !!! On June 1, the board of directors declares a cash dividend to be paid on June 30 to stockholders of record on June 15....
Mayan Company had net income of $33,580. The weighted-average common shares outstanding were 9,200. The company has no preferred stock. The company's earnings per share is: Multiple Choice $5.00 $3.71. $3.59 $1.39. $3.65 Authorized shares 28,000 Issued shares 23,000 7,500 Treasury shares The number of outstanding shares is: Multiple Choice 28,000. 35,500 23,000. 20,500. Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 24,000 shares authorized 11,400 shares issued, and 9,600 shares of...
A corporation issued 240 shares of its $5 par value common stock in payment of a $3.200 charge from its accountant for assistance in filing its charter with the state. The entry to record this transaction will include: Save & E Murile Choice A$200 C A 1200 Organogenes A $2.000 credit to Paid in Capital Escess of Par Valve Common Stock A $1.200 biso Legal Expenses A $1.200 credit to Common Stock Fetzer Company declared a $0.35 per share cash...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED (24 points) Prepare journal entries to record the following (round to nearest dollar.) Jan. 3, 2020 Issued 15,000 shares for $15 per share Jan 15 Purchased 5,000 shares of treasury stock at $17 Jan 22 Declared a dividend of $1.50 per share on the outstanding shares of common stock. Feb. 8 Paid the dividend declared on January 22. Sep. 1 Declared a 5% stock...
2. BCC Inc. has 390,000 shares of $10 par value common stock issued and outstanding. REQUIRED (24 points) Prepare journal entries to record the following (round to nearest dollar.) Jan. 3, 2020 Issued 15,000 shares for $15 per share Jan 15 Purchased 5,000 shares of treasury stock at $17 Jan 22 Declared a dividend of $1.50 per share on the outstanding shares of common stock. Feb. 8 Paid the dividend declared on January 22. Sep. 1 Declared a 5% stock...
Question 5 4 pts Snowman Company has issued 75,000 shares of $1 par, 6%, cumulative preferred stock. Preferred dividends are three years in arrears. Snowman Company has 200,000 shares of $0.50 par common stock issued and 50,000 shares of treasury stock. Total dividends declared in the current year are. $240,000. What is the dividend per share that common stockholders will receive (round to two decimals)? $1.10 $1.18 $1.48 O $1.57 O None of the above.
35) Burkert Company has 50,000 shares of $1 par value common stock issued and outstanding. The company also has 9000 shares of $100 par value, 4% cumulative preferred stock outstanding. Burkert did not pay the preferred dividends in 2016 and 2017. For the common stockholders to receive a dividend in 2018, the board of directors must declare dividends in excess of A) $108,000. B) $72,000 C) $36,000 D) $144,000
Anthem Inc. issues 200,000 shares of stock with a par value of $0.03 for $152 per share. Three years later, it repurchases these shares for $82 per share. Anthem records the repurchase in which of the following ways? Multiple Choice Debt Stockholders' Equity for $30.40 million credit Additional Paid in Capital for $15.40 million and credit Cash for $16.40 million Debit Common Stock for $6,000, debit Additional Paid-in Capital for $16,394 000 and credit Cash for $16.40 million Oo oo...
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