Part-1 | ||||
Date | Account Tittle | L.F | Debit | Credit |
Retained earnings (500,000*12%*20) | $1,200,000 | |||
Common Stock Dividend Distributable (500,000*12%*.75) | $45,000 | |||
Paid in Capital in excess of Par-Common stock | $1,155,000 | |||
TO Record stock dividend | ||||
Common Stock Dividend Distributable | $45,000 | |||
Common Stock | $45,000 |
Part-2: Statement showing Stockholders Equity | |
Common Stock $0.75 par 2,400,000 shares authorized. 560000 Issued | $420,000 |
Paid in
Capital in excess of Par-Common stock (1076267+1155000) |
$2,231,267 |
Retained earnings (7155000-1200000) | $5,955,000 |
Accumulated other comprehensive income | -$175,000 |
Total stockholders equity | $8,431,267 |
Part-3: Stockholder Equity unchanged by the stock Dividend because total Amount of Retained earning simultaneously increased as increase in paid in capital. |
Part-4 : Maximum dvidend can not exceed the reatined earning by $5955000 |
please answer all requirements, im very confused! thank you IUTCWUI. Ullapiei IU HUITWork Score: 0.25 of...
Homework: Homework - Chapter 10 Score: 0 of 2 pts < 3 of 4 (0 complete) ► E10-21A (similar to) The stockholders' equity for Castaway, Inc., on December 31, 2017, follows: (Click the icon to view the stockholders' equity on December 31, 2017.) On March 31, 2018, the market price of Castaway's common stock was $22 per share and the company distributed a 10 percent stock dividend. Read the requirements. Requirement 1. Journalize the distribution of the stock dividend. (Record...
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ACT202: Chapter 13 Home Work Exercises Exercise 13-5: Large Stock Dividend and Stock Split: GIVEN: On June 30, 2017, Sharper Corporation's common stock is priced at $30.50 per share before any stock dividend or split, and the stockholders' equity section of its BS appears as follows: Common stock--$6 par value, 90,000 shares authorized, 216,000 100,000 36,000 shares issued and outstanding Paid-in capital in excess of par value, Common Stock Retained earnings 316,000 632,000...
I
need all three jorunals, thank you
On October 10, the stockholders' equity of Sherman Systems appears as follows. Common stock-$10 par value, 79,000 shares authorized, issued, and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 790,000 251,000 920,000 $1,961,000 1. Prepare journal entries to record the following transactions for Sherman Systems. a. Purchased 5,700 shares of its own common stock at $32 per share on October 11. b. Sold 1,175 treasury...
This is all 1 question. I could really use the help. Thank
you.
Question 12 View Policies Current Attempt in Progress The stockholders' equity accounts of Culver Corporation on January 1, 2017, were as follows. Preferred Stock (6%, $100 par noncumulative, 4,850 shares authorized) $291,000 Common Stock ($3 stated value, 316,000 shares authorized) 790,000 Paid-in Capital in Excess of Par Value-Preferred Stock 14,550 Paid-in Capital in Excess of Stated Value-Common Stock 505,600 Retained Earnings 694,500 Treasury Stock (4.850 common shares)...
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getting it wrong. can you please double check my work and correct
it? Thank you so much.
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 (320,000 shares authorized; 7,000 shares issued), $25 par, $175,000; Paid-In Capital in excess of par-common stock, $35,000; and Retained earnings, $1,925,000....
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Accounting 2140 - Comprehensive Problem On October 1, 2019, Santana Rey launched a computer services company called Business Solutions, which provides consulting services, computer system installations, and custom program development Rey adopts the calendar year for reporting purposes and expects to prepare the company's first set of financial statements on December 31, 2019. After the success of the company's first two months, Santana...
Complete Problems 13-2B, 13-3B and 13-4B on the proper tab. You can complete the problems in Excel and submit the Excel spreadsheet in Canvas or you can print out the Excel spreadsheet and complete by hand. You will then need to scan in your completed worksheets and submit those in Canvas. Each problem is worth 8 points. Problem 13-2B This problem focuses on journal entries for dividends and Treasury Stock. It also includes preparation of a statement of Retained Earnings...
Please help me solve all the Requirements problems
1,2,3,4,5,6, and 8.
Please give clear details and explanations. Please label each
requirement with the solution.
Thank you, have a wonderful day!
The Tusquittee Company is a retail company that began operations on October 1, 2018, when it incorporated in the state of North Carolina. The Tusquittee Company is authorized to issue 100,000 shares of $1 par value common stock and 50,000 shares of 5%, $50 par value preferred stock. The company...
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requirements 1 and 2 please
HW Score: 60%, 6 of 10 5 of 6(5 complete) Score: 0 of 2 pts XP 1 1-33A (similar to) EQuestion Help 2018comparat vo balance sheet and nome statement of Lindeman Pet Supply. he . are Linderman Pet Supply, Inc, had no noncash investšing and financing transactions during 2018. During the year Linderman Pet Supply, Inc, sold no land or equipment, issued no notes paryable rered no stock, and had no treasury stock transactions...