Homework Answers
| 500,000*15%= | 75000 | |||||
| Date | General Journal | Debit | Credit | |||
| 1-Oct | Stock dividend | (75000*25) | 1875000 | |||
| stock dividend distributable | 750000 | |||||
| paid in capital in excess of par | 1125000 | |||||
| 20-Nov | Stock dividend distributable | 750,000 | ||||
| Common stock | 750,000 | |||||
| 2) | Large dividend | |||||
| 500,000*50%= | 250000 | |||||
| Date | General Journal | Debit | Credit | |||
| 1-Oct | Stock dividend | (250,000*10) | 2500000 | |||
| stock dividend distributable | 2500000 | |||||
| 20-Nov | Stock dividend distributable | 2,500,000 | ||||
| Common stock | 2,500,000 | |||||
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mare - Operations, Dividends, Book Value pur Share, and Earnings per Share Exercise 9-5...
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...
need answer asap ABC Corp. reports the following balances as of January 1, 2010: Ordinary share...
need answer asap
ABC Corp. reports the following balances as of January 1, 2010: Ordinary share capital, P25 par, 2,000 shares outstandingP50,000 Ordinary share premium 20,000 Retained earnings 150,000 The following dividend declarations were made during the year: Mar 15 Declared a cash dividend of P5 per share payable on April 15 to shareholders of record of March 31. July 15 Declared as dividends stocks of Pentagon Corp. owned by ABC Corp. One share of Pentagon Corp. stock will be...
ABC Corp. reports the following balances as of January 1, 2010: Ordinary share capital, P25 par,...
ABC Corp. reports the following balances as of January 1, 2010: Ordinary share capital, P25 par, 2,000 shares outstandingP50,000 Ordinary share premium 20,000 Retained earnings 150,000 The following dividend declarations were made during the year: Mar 15 Declared a cash dividend of P5 per share payable on April 15 to shareholders of record of March 31. July 15 Declared as dividends stocks of Pentagon Corp. owned by ABC Corp. One share of Pentagon Corp. stock will be distributed for every...
kindly provide explanations Instructions: Record the declaration Record the declaration and distribution of the above dividends....
kindly provide explanations
Instructions: Record the declaration Record the declaration and distribution of the above dividends. Exercise 9-7 Allocation of Cash Dividends to Preference and Ordinary Shareholders) The STU Co. has paid dividends for the last three years as follows: 2012 - P2,500,000; 2013 - P3,500,000; 2014 - P6,500,000. During the last three years, the company has the following outstanding share capital: 100.000 shares of P100 par, 12% Preference Share Capital and 500,000 shares of P10 par Ordinary Share Capital....
HAPTER 13 Corporate Reporting: Profit, Earnings Per Share, and Retained Earnings On November I November 20...
HAPTER 13 Corporate Reporting: Profit, Earnings Per Share, and Retained Earnings On November I November 20 te EXERCISES 29 were $2.35, $ Exercise 13-1 Share dividends LO1 Required CHECK FIGURE: 2. Retained earnings $577150 1. Prepare the Arcus Development Inc.'s equity section on the December 31, 2019, balance sheet showed the following 2. Prepare the information: November 2 Common shares, unlimited shares authorized 210.000 shares issued and outstanding Analysis Com and why? $3,360,000 Retained earnings. 575,000 On January 15, 2020,...
- Your answer is partially correct. Concord Corporation has 41,500 shares of $12 par value common...
- Your answer is partially correct. Concord Corporation has 41,500 shares of $12 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $18. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If...
Provide explanations. Exercise 3. Share split and Reverse Share split On June 30,2018, the capital accounts...
Provide explanations.
Exercise 3. Share split and Reverse Share split On June 30,2018, the capital accounts of Leviticus Company are as follows: Ordinary Share Capital, P25 par, 20,000 shares Ordinary Share Premium P500,000 100,000 Required: 1. Prepare the necessary journal entry to record each of the following independent transactions: a. The company undertakes a 5-for-1 share split. b. The company undertakes a 1-for-4 share split. 2. State the number of capital shares issued and outstanding for each independent transaction.
On September 15, 2020, the Board of Directors of Tamarisk Company declared a 90¢ per share...
On September 15, 2020, the Board of Directors of Tamarisk
Company declared a 90¢ per share cash dividend, payable on October
31 to shareholders of record as of October 1. On the date of
declaration, Tamarisk Company had 205,000 common shares
outstanding, of which 27,000 were held in Treasury. On October 15,
2020, the company issued an additional 60,000 common shares for
$6.00 each.
Prepare all the required journal entries to record these
transactions. (Credit account titles are automatically
indented...
Pacifica Papers Inc. needed to conserve cash, so instead of a cash dividend the board of...
Pacifica Papers Inc. needed to conserve cash, so instead of a
cash dividend the board of directors declared a 5% common share
dividend on June 30, 2020, distributable on July 15, 2020. Because
performance during 2020 was better than expected, the company’s
board of directors declared a $0.95 per share cash dividend on
November 15, 2020, payable on December 1, 2020, to shareholders of
record on November 30, 2020. The equity section of Pacifica’s
December 31, 2019, balance sheet showed:...
Required information Exercise 11-6 Stock dividends and per share book values LO P2 [The following information...
Required information Exercise 11-6 Stock dividends and per share book values LO P2 [The following information applies to the questions displayed below.] The stockholders' equity of TVX Company at the beginning of the day on February 5 follows: Common stock-$10 par value, 150,000 shares authorized, 53,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 530,000 525,000 675,000 $1,730,000 On February 5, the directors declare a 16% stock dividend distributable...
need answer asap
ABC Corp. reports the following balances as of January 1, 2010: Ordinary share capital, P25 par, 2,000 shares outstandingP50,000 Ordinary share premium 20,000 Retained earnings 150,000 The following dividend declarations were made during the year: Mar 15 Declared a cash dividend of P5 per share payable on April 15 to shareholders of record of March 31. July 15 Declared as dividends stocks of Pentagon Corp. owned by ABC Corp. One share of Pentagon Corp. stock will be...
kindly provide explanations
Instructions: Record the declaration Record the declaration and distribution of the above dividends. Exercise 9-7 Allocation of Cash Dividends to Preference and Ordinary Shareholders) The STU Co. has paid dividends for the last three years as follows: 2012 - P2,500,000; 2013 - P3,500,000; 2014 - P6,500,000. During the last three years, the company has the following outstanding share capital: 100.000 shares of P100 par, 12% Preference Share Capital and 500,000 shares of P10 par Ordinary Share Capital....
HAPTER 13 Corporate Reporting: Profit, Earnings Per Share, and Retained Earnings On November I November 20 te EXERCISES 29 were $2.35, $ Exercise 13-1 Share dividends LO1 Required CHECK FIGURE: 2. Retained earnings $577150 1. Prepare the Arcus Development Inc.'s equity section on the December 31, 2019, balance sheet showed the following 2. Prepare the information: November 2 Common shares, unlimited shares authorized 210.000 shares issued and outstanding Analysis Com and why? $3,360,000 Retained earnings. 575,000 On January 15, 2020,...
- Your answer is partially correct. Concord Corporation has 41,500 shares of $12 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $18. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If...
Provide explanations.
Exercise 3. Share split and Reverse Share split On June 30,2018, the capital accounts of Leviticus Company are as follows: Ordinary Share Capital, P25 par, 20,000 shares Ordinary Share Premium P500,000 100,000 Required: 1. Prepare the necessary journal entry to record each of the following independent transactions: a. The company undertakes a 5-for-1 share split. b. The company undertakes a 1-for-4 share split. 2. State the number of capital shares issued and outstanding for each independent transaction.
On September 15, 2020, the Board of Directors of Tamarisk
Company declared a 90¢ per share cash dividend, payable on October
31 to shareholders of record as of October 1. On the date of
declaration, Tamarisk Company had 205,000 common shares
outstanding, of which 27,000 were held in Treasury. On October 15,
2020, the company issued an additional 60,000 common shares for
$6.00 each.
Prepare all the required journal entries to record these
transactions. (Credit account titles are automatically
indented...
Pacifica Papers Inc. needed to conserve cash, so instead of a
cash dividend the board of directors declared a 5% common share
dividend on June 30, 2020, distributable on July 15, 2020. Because
performance during 2020 was better than expected, the company’s
board of directors declared a $0.95 per share cash dividend on
November 15, 2020, payable on December 1, 2020, to shareholders of
record on November 30, 2020. The equity section of Pacifica’s
December 31, 2019, balance sheet showed:...
Required information Exercise 11-6 Stock dividends and per share book values LO P2 [The following information applies to the questions displayed below.] The stockholders' equity of TVX Company at the beginning of the day on February 5 follows: Common stock-$10 par value, 150,000 shares authorized, 53,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 530,000 525,000 675,000 $1,730,000 On February 5, the directors declare a 16% stock dividend distributable...
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